Canned Food Giant Del Monte Files for Bankruptcy

The nearly 140-year-old company is looking at restructuring capital and has secured more than $900 million in debtor-in-possession financing.

Different varieties and brand canned vegetables at a grocery store in Detroit, Mich., on June 7. 2018. Shutterstock

Del Monte Foods, one of the largest producers and distributors of canned food in the United States, filed for bankruptcy, the company announced on July 2.

Del Monte commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of New Jersey on July 1 and is looking at selling substantially all of its assets. Del Monte was founded in 1886.