<ul data-eligibleForWebStory="false"><li>139-year-old canned fruit company Del Monte Foods filed for Chapter 11 bankruptcy in New Jersey. The company listed liabilities between $1 billion and $10 billion.</li><li>The decision to file for bankruptcy was made after careful consideration. A court-supervised sale process is seen as a way to accelerate their turnaround.</li><li>Del Monte Foods secured $912.5 million in new funding to continue operations. The company aims for an improved capital structure and financial position with new ownership.</li><li>The shift in consumer preferences away from canned food has impacted Del Monte Foods. The company, once a market leader, faces challenges amidst changing consumer demands.</li></ul>

139‑YO canned-food brand Del Monte Foods files for bankruptcy, seeking buyer

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