Del Monte Foods, the iconic canned food brand behind items like fruit cocktail and sweet corn, has filed for bankruptcy. After over a century in the business, the company says rising debt, changing consumer habits, and production costs pushed it to the edge.
Highlights:
- Del Monte Foods files for Chapter 11 bankruptcy in U.S. court
- Company has over $1.2 billion in debt but will continue operations
- Fresh food trends and rising tariffs blamed for massive losses
- Del Monte is looking to sell off most or all of its assets
- Around 2,800 U.S. jobs expected to be retained during the process
Main Story:
Del Monte Foods, once a household name in canned vegetables and fruits, has filed for Chapter 11 bankruptcy protection. The move comes after the company was buried under more than $1.23 billion in secured debt.
The filing happened in New Jersey, and the company has secured over $900 million in emergency financing to keep operations running during restructuring.
Despite a temporary boost during the COVID-19 pandemic, Del Monte couldn’t keep up with shifting consumer demands. People are increasingly choosing fresh, healthy foods over canned products, and private-label (supermarket-brand) items are stealing shelf space.
On top of that, higher steel and aluminum tariffs made packaging more expensive, and interest payments on company debt doubled in just five years—from $66 million in 2020 to $125 million in 2025.
While the bankruptcy filing signals serious trouble, Del Monte says it isn’t shutting down. The company plans to continue supplying major stores like Walmart and Target as it works to sell off assets and stabilize financially.
Its 2,800 employees across the U.S. are expected to keep their jobs during the court process.
CEO Greg Longstreet says filing for bankruptcy is part of a bigger turnaround plan. He believes Del Monte can become leaner and more competitive if the restructuring is successful and the right buyer steps in.
Del Monte’s collapse shows how fast the food game is changing—can a legacy brand still win in the age of wellness and fresh eats?
