Del Monte Foods, a 140-year-old canned food company, has filed for Chapter 11 bankruptcy protection and is seeking a buyer through a court-supervised sale. The company secured $912.5 million and an additional $165 million from lenders to support ongoing operations and the current pack season. Despite the bankruptcy, operations will continue without interruptions. Recently, Del Monte announced the closure of a facility and two warehouses in Yakima, Washington, affecting 51 jobs as layoffs are expected to begin.
Del Monte Foods, a 140-year-old canned food giant, has filed for Chapter 11 bankruptcy and is pursuing a buyer through a court-supervised sale process.
Operations at Del Monte are expected to continue without interruptions despite the bankruptcy filing, as the company has secured significant financial support from lenders.
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