The 138-year-old company, Del Monte Foods, has filed for bankruptcy, the company said in a statement.
“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.
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Del Monte is entering Chapter 11 and is looking for a buyer to acquire its assets. The company calls itself “The Original Plant-Based Food Company” and makes a variety of canned fruits and vegetables. In addition to the name brand Del Monte, the company produces