Del Monte Foods files for Chapter 11 bankruptcy in the U.S. and seeks sale

From Yahoo Finance: 2025-07-01 21:27:00

Del Monte Foods has filed for Chapter 11 bankruptcy in the U.S. and is pursuing a sale. The company secured $912.5 million in financing and plans to remain operational during the process. Assets and liabilities are estimated between $1 billion to $10 billion with 10,000 to 25,000 creditors. CEO Greg Longstreet sees this as a strategic move to strengthen the company. Certain non-U.S. subsidiaries are not part of the proceedings.

Read more: Del Monte Foods seeks buyer as it initiates US bankruptcy proceedings