Del Monte Foods, one of the largest producers and distributors of canned food in the United States, filed for bankruptcy, the company announced on July 2.

The Del Monte Foods entities, which filed for bankruptcy, are the U.S. indirect subsidiaries of Del Monte Pacific Limited, and not affiliated with other Del Monte companies around the world, including Fresh Del Monte Produce Inc., Del Monte Canada, Del Monte Asia Pte. Ltd., Conagra/Productos Del Monte, or Del Monte Panamerican.

The U.S. subsidiary is based in California with research facilities in the state. The company employs between 5,000 and 10,000 people.

Del Monte Foods operates production facilities across the United States, as well as in Mexico.

“This is a strategic step forward for Del Monte Foods,” Greg Longstreet, president and CEO of Del Monte Foods, said in an emailed statement to The Epoch Times. “After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods. With an improved capital structure, enhanced financial position and new ownership, we will be better positioned for long-term success.”

Del Monte has secured a commitment for $912.5 million in debtor-in-possession financing, inclusive of $165 million in new funding, from certain of its existing lenders, subject to court approval, according to the announcement.

The funding is expected to support the company’s ongoing operations. Certain foreign subsidiaries will continue to operate as usual and are not included in the Chapter 11 proceedings.

Longstreet said: “While we have faced challenges intensified by a dynamic macroeconomic environment, Del Monte Foods has nourished families for nearly 140 years, and we remain committed to our mission of expanding access to nutritious, great-tasting food for all. I am deeply grateful to our employees, growers, customers and vendors, as well as our lenders for their support in helping us achieve our long-term goals.”

The overall commercial filing increased by 8 percent from April. Meanwhile, total bankruptcy filings, which include commercial and noncommercial, totaled 48,218 in May.

“The sharp uptick in overall commercial chapter 11 filings in May 2025 underscores the ongoing economic pressures businesses face, from elevated borrower costs, potential tariff impacts, and geopolitical uncertainty,” said Michael Hunter, vice president of Epiq AACER. “Meanwhile, consumer filings continue to climb yet remain below pre-pandemic levels; however, the resumption of student loan collections and the expiration of the FHA modification programs are likely to drive further increases in filings, particularly through the end of 2025 and into 2026.”

American Bankruptcy Institute Executive Director Amy Quackenboss said that bankruptcy offers a “fresh start” for businesses and families under financial distress.