Del Monte Foods Files Chapter 11 Bankruptcy: Here's Why The Canned Foods Maker Struggled While Its Rivals Are Going Strong

Del Monte Foods, a 138-year-old titan in canned fruits and vegetables, filed for Chapter 11 bankruptcy on July 1 in the U.S. Bankruptcy Court for the District of New Jersey, aiming to restructure its finances and pursue a sale of its assets. What Happened: The company, known for brands like Del…