139‑yr‑old canned food firm Del Monte Foods files for bankruptcy
Del Monte Foods, the 139-year-old US-based company best known for its canned fruits and vegetables, has filed for bankruptcy. "We determined court-supervised sale process is the most effective way to accelerate our turnaround," CEO Greg Longstreet said. The company has secured $912.5 million in debtor-in-possession financing that'll allow it to continue operating normally during the sale process.