Del Monte Foods and numerous affiliates (“Del Monte”) filed voluntary petitions for Chapter 11 bankruptcy protection in the District of New Jersey on July 1st (Case No. (Case no. 25-16984). Del Monte is one of the country’s largest producers, distributors and marketers of branded food products including Del Monte, College Inn and Contadina. The bankruptcy filing follows a Restructuring Support Agreement (RSA) with key lenders designed to execute a court-supervised sale of the business as a “going concern”
Del Monte estimates its assets and liabilities are each in the $1 billion to $10 billion range, with 10,000 to 25,000 creditors listed in the filings. Del Monte’s CEO, Greg Longstreet emphasized that the bankruptcy filing was a strategic move to “accelerate our turnaround” and emerge “stronger and more enduring”
Del Monte has filed “first-day” motions aiming to continue operations. The motions impact suppliers, employees, and vendors, such as logistics partners who are owed multi-million dollars.
