138-Year-Old Food Company Files For Bankruptcy

It’s the end of an era.

The California-based canned food company Del Monte Foods has filed for bankruptcy.

Although Del Monte has filed for bankruptcy, its products, such as its famous fruit cocktails and canned vegetables, may still be available in the future because the 138-year-old company is looking to be bought out.

Check out what CNN had to share on Del Monte’s bankruptcy:

Del Monte Foods, the 138-year-old company best known for its canned fruits and vegetables, has filed for bankruptcy and is looking for a buyer.

Late Tuesday, the company announced it was voluntarily entering Chapter 11 and is going through a sale process for all of its assets. Among the company’s product lines are a number of well-known kitchen staples, including College Inn broths and Contadina canned tomatoes, as well as its flagship Del Monte brand.

“After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods,” said President and CEO Greg Longstreet in a statement.

Del Monte said it secured $912.5 million in new funding that will allow the company to remain afloat during the sale process and will keep the company operating as normal as it enters the peak canning season. The company listed liabilities estimated between $1 billion and $10 billion, according to court documents.

“With an improved capital structure, enhanced financial position and new ownership, we will be better positioned for long-term success,” added Longstreet.

He said that the company has “faced challenges intensified by a dynamic macroeconomic environment,” notably consumers cutting back on their spending and a growing shift toward spending on private labels.

Just saw Del Monte filed bankruptcy. I mean, who of us as a kid wasn't treated to their fruit cocktail or cling peaches in heavy syrup… pic.twitter.com/qtsM0k4uj0

— Dave Scarangella (@DaveScarangella) July 2, 2025

Fox Business reported that some of Del Monte’s subsidiaries are not included in the bankruptcy:

Certain of its non-U.S. subsidiaries are not included in the Chapter 11 proceedings and will continue to operate as usual, the company added.

A filing with the New Jersey bankruptcy court obtained by Reuters estimates the company’s assets and liabilities at between $1 billion and $10 billion, while the number of creditors is estimated at between 10,000 and 25,000.

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What do you think about Del Monte’s recent move?

Personally, I grew up on several of their products and am sad to see them file for bankruptcy.

However, in the past years, I have not had any of their products because I prefer to buy fresh fruits and veggies from the market.