Del Monte Foods files for bankruptcy as 139-year-old food icon seeks sale

Del Monte Foods kicked off efforts to pursue a sale as it filed for Chapter 11 bankruptcy proceedings in the US on Tuesday under an agreement with certain key lenders, the company said in a statement. The company has secured $912.5 million in financing to support itself through the proceedings, it said, adding that it intends to remain open and continue operations throughout the bankruptcy. The 139-year old company hosts names like canned fruits and vegetables brand Del Monte, College Inn, under which it sells broth and stocks, and tea...