Historic Grocery Store Brand Files for Bankruptcy After 140 Years

Published On: July 3, 2025

Walnut Creek, California: Del Monte, the iconic producer of canned fruits and vegetables, has filed for Chapter 11 bankruptcy and is actively seeking a buyer, the company announced on Monday.

The move comes as part of a restructuring support agreement with its lenders, marking a significant step in the company’s efforts to overcome its financial challenges.

Del Monte’s Chapter 11 Filing

Founded nearly 140 years ago, Del Monte has faced a series of financial difficulties in recent years, leading to this decision.

In a statement, Del Monte President and CEO Greg Longstreet described the bankruptcy filing as a “strategic step forward” for the company. He emphasized that this court-supervised sale process will help the company accelerate its turnaround and position itself for long-term success.

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

Funding Support

Del Monte has secured over $912 million from its lenders to support the company through the bankruptcy proceedings. Despite the filing, the company intends to continue operations and maintain business as usual.

Financials and Challenges

Del Monte’s bankruptcy filing in the U.S. Bankruptcy Court for the District of New Jersey reveals that the company has between $1 billion and $10 billion in both assets and liabilities.

The number of creditors is estimated to be between 10,000 and 25,000.

Over the past few years, Del Monte has made several efforts to downsize, including issuing layoffs and closing plants, as part of its strategy to reduce costs.

Industry Context

Del Monte is not alone in seeking bankruptcy protection. Other major companies, including WeightWatchers, Rite Aid, Publishers Clearing House, and décor retailer At Home, have also filed for Chapter 11 bankruptcy this year, as they attempt to restructure in response to financial pressures.

What are your thoughts on Del Monte’s bankruptcy filing? How do you think this will affect the food industry? Share your thoughts in the comments below. Stay informed by visiting ridgecrestpact.org for more updates

Doris Oliver

Doris Oliver is a proud Ridgecrest native with a deep passion for bringing local stories to light. With over 2 years of experience in community reporting, Doris has built a trusted voice in the Community. Her work focuses on covering the issues that matter most to Ridgecrest residents — from public safety and education to local government and community events. Driven by a belief that informed citizens make stronger communities, Doris is committed to delivering accurate, timely, and impactful news. Through ridgecrestpact.org, she aims to bridge the gap between people and the stories shaping their everyday lives — making local news accessible, engaging, and meaningful.