Overview
- Under a restructuring support agreement, the company launched a court-supervised going-concern sale process for substantially all of its assets.
- Debtor-in-possession financing includes $165 million in fresh funds from existing lenders to support ongoing operations.
- U.S. Bankruptcy Court filings estimate both the company’s assets and its liabilities at between $1 billion and $10 billion.
- Del Monte’s non-U.S. subsidiaries are excluded from the proceedings and will continue to operate without interruption.
- The filing follows a contentious 2024 drop-down debt restructuring and reflects pressure from shifting consumer tastes, supply-chain strains and a heavy debt load.