Canned Foods Giant Del Monte Declares Bankruptcy

The New York Times reports:

Del Monte Foods, the nearly 140-year-old company known for its wide array of canned vegetables and fruits, filed for bankruptcy protection on Tuesday after struggling with rising borrowing costs, pandemic missteps and a changing global economy.

The California-based company, facing secured debt of more than $1.2 billion, said it had agreed to a restructuring agreement with lenders that calls for Del Monte to sell “all or substantially all” of its assets.

The pressures were compounded by increasingly price-conscious consumers, who are choosing store brands, or private labels, rather than national names like Del Monte. Tariffs on steel and aluminum would also make cans more expensive. Roughly 80 percent of the steel used for cans for food comes from abroad.

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Del Monte Foods just filed for bankruptcy.

Theyve been in business for 138 years but this is their reason for the bankruptcy:

-Consumers cutting back on spending

-Inflation

-Trump tariffs#ETTD

— WTFGOP (@doggintrump) July 2, 2025