A POPULAR food manufacturer and seller has faced increasing pressure over the years, culminating in a Chapter 11 bankruptcy filing.
The nearly 140-year-old company, which has been a staple on the shelves of retailers including Walmart and Target, filed for bankruptcy protection on Tuesday.
Del Monte Foods is one of the largest producers, distributors, and marketers of branded processed food in the country.
The iconic brand, known for its canned fruits and vegetables, is working to restructure its operations and seek a buyer following years of struggles.
Shifting consumer behavior, supply chain troubles, and increasing operational costs, among other factors, have hit Del Monte Foods hard.
These struggles pushed the company to begin voluntary Chapter 11 proceedings in the US Bankruptcy Court for the District of New Jersey earlier this week, Del Monte Foods shared in a Tuesday press release.
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