Del Monte, a nearly 140-year-old grocery staple, filed for Chapter 11 bankruptcy on July 1, 2025. The Walnut Creek-based company cited financial challenges and the need to secure a buyer in its Chapter 11 filing. It will continue to operate during the proceedings.
Highlights
- Del Monte filed for Chapter 11 bankruptcy protection on July 1.
- According to PacerMonitor, the company reported assets and liabilities estimated between $1 billion and $10 billion.
- The food production and distribution giant seeks to improve its finances and get a buyer.
Del Monte Applies for Chapter 11 Bankruptcy
In a July 1 filing, the company petitioned in the New Jersey Bankruptcy Court. The filing lists estimated assets and liabilities between $1 billion and $10 billion. The number of creditors is around 10,000-25,000.
Founded in 1886, Del Monte became a household name for canned fruits and vegetables. Contadina canned tomatoes and College Inn broths are some of its popular product lines.
CEO Greg Longstreet noted the company has faced challenges due to declining consumer demand. He said a court-supervised sale process would help strengthen the company’s finances and attract a buyer. Del Monte secured $912.5 million in financing to support operations during the restructuring process.
According to PacerMonitor, Del Monte’s exclusive right to file a reorganization plan will expire on October 29, 2025.
Amid ongoing economic headwinds, the filing may give Del Monte a chance to restructure its operations and finances.
