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Del Monte has secured €773m in funding which will allow it to operate through the sale process. Alamy

Tinned food brand Del Monte files for bankruptcy and is looking for a buyer

The 138-year-old company will continue to operate as normal throughout the sales process.

TINNED FOOD BRAND Del Monte has filed for bankruptcy and is looking for a buyer.

The company announced yesterday that it is entering voluntary chapter 11 bankruptcy and will begin the sale of its assets while it searches for a new owner.

Del Monte, a 138-year-old brand, is widely known for its tinned fruit and vegetable products.

It said yesterday that it has secured €773m in funding that will allow the company to operate through the sale process. CNN reports its liabilities have been listed as between €800m and €8bn, according to court documents.

“With an improved capital structure, enhanced financial position and new ownership, we will be better positioned for long-term success,” Greg Longstreet, President and CEO, said before thanking the company’s employees, growers and customers.

The California company’s non-American subsidiaries are also included in the bankruptcy filings, but will continue to operate as normal alongside the rest of the firm.

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    Mute neimad
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    Nov 5th 2014, 2:58 PM

    “In Ethiopia according to the 2010 revision of the UN’s World Population Prospects, the total population was 82,950,000 in 2010, compared to 18,434,000 in 1950.”

    How about some education on birth control.

    145
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    Mute Emily Elephant
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    Nov 5th 2014, 3:06 PM

    It would be worse if they didn’t keep killing girls. Clitoris-hacking is prevalent in large parts of Ethiopia, and the victims frequently get infections and die. If you run the numbers, around 2 million Ethiopian girls have died from botched mutilations since Live Aid.

    That’s the culture which Michael D, a self-described feminist, is lauding as “striving for freedom”. Some habits die hard.

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    Mute Scipio Africanus
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    Nov 5th 2014, 3:03 PM

    Rather then making these ridiculous faux links between Ireland and Ethiopia on the basis of a famine that happened over 150 years ago, Higgins could make himself useful by preaching the virtues of birth control. In 1963 Ethiopia had a population of 23 million. It has now more then tripled to over 95 million in the space of 40 years.

    92
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    Mute Danny Rigg
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    Nov 5th 2014, 4:45 PM

    The world population has almost tripled in the same time period, even in developed countries like the USA the population has almost doubled in the same time period. Impoverished and developing countries have always had high birth rates, in the modern world that’s partly to do with being unable to afford birth control and not having the necessary services in place. How about we address that instead of just assume they’re ignorant.

    15
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    Mute Tony Newley
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    Nov 5th 2014, 3:21 PM

    Why are we giving Ethopia any money, when they have a Military budget of $400 million USD.

    85
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    Mute Diarmuid
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    Nov 5th 2014, 3:46 PM

    We are giving Sudanese refugees aid, not the Ethiopian military.

    38
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    Mute Tony Newley
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    Nov 5th 2014, 3:50 PM
    4
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    Mute Mark Miller
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    Nov 5th 2014, 3:20 PM

    The grub must be good at Áras an Uachtaráin. Is our little President looking a little more rotund these days?

    70
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    Mute Fognostical
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    Nov 5th 2014, 4:08 PM

    Distended belly is a sign of starvation, he likes to get into the character when he is role-playing.

    34
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    Mute stephen
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    Nov 5th 2014, 2:53 PM

    I was reading that with interest,until I saw the stuffed lion now all sorts of sh!t is going on in my head.

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    Mute Emily Elephant
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    Nov 5th 2014, 2:59 PM

    Who’s writing this rubbish? Ethiopia is the one country in Africa which *wasn’t* colonised.

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    Mute Gordon Kennedy
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    Nov 5th 2014, 3:09 PM

    Does Mussolini not count?!

    34
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    Mute Emily Elephant
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    Nov 5th 2014, 3:19 PM

    Well personally I wouldn’t count a 5 year occupation in which the fighting never stopped. It takes away any real meaning of the term. Vichy France has a better claim of “colonialism”, or even Germany after WW2.

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    Mute Ross
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    Nov 5th 2014, 3:23 PM

    Actually, there’s two, Liberia is the other.

    21
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    Mute Danny Rigg
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    Nov 5th 2014, 4:47 PM

    Liberia was colonised by the USA. It’s system of government is modelled on that of the US and it’s capital is still named after US President, James Monroe

    14
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    Mute Ross
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    Nov 5th 2014, 3:21 PM

    President Higgins does have the girth of a man who suffered hunger, and I sure the banquet table at the palace of Ethiopian President Dr Malatu Teshome was generously laden ensuring another full-belly day.

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    Mute leinsterlion6
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    Nov 5th 2014, 3:43 PM

    Has he invited thousands of them to come here,like one of his predecessors Robinson did?

    41
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    Mute leinsterlion6
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    Nov 5th 2014, 3:46 PM

    The fool s making similarities between Ireland and Ethiopia ,they might see that as an open invitation, the idiots that are in charge of our country are destroying it

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    Mute Liz Potts
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    Nov 5th 2014, 4:24 PM

    Steady on there Nigel farage!

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    Mute leinsterlion6
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    Nov 5th 2014, 4:58 PM

    @Liz

    Thanks for the compliment sure good old Nigel is the man of the moment right now!

    19
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    Mute Kizzi Yeates
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    Nov 5th 2014, 3:48 PM

    I do hope that odious little man stays over there… :)

    39
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    Mute Gordon Kennedy
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    Nov 5th 2014, 3:07 PM

    Careful now Michael, the Sindo et al won’t like that Fenian stuff about colonisation…!

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    Mute Tim Stephen Hendy
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    Nov 5th 2014, 4:06 PM

    A small Italian incursion is not “colonisation”. Muppet.

    33
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    Mute Máirtín
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    Nov 5th 2014, 2:58 PM

    Best President to date?

    29
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    Mute Micheal Fiona O Flaherty
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    Nov 5th 2014, 3:07 PM

    Good job the lion was stuffed. He would cause some serious harm if he was hungry when he met Michael D.

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    Mute Winston Teardrops
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    Nov 5th 2014, 4:02 PM

    At least the British queen is pulling in money from tourists etc.
    Sadly, Paddy Q. Taxpayer takes the full hit for our lad’s jaunts.
    Is there any country that his little red heart has not yet bled in?

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    Mute SeanieRyan
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    Nov 5th 2014, 5:18 PM

    Buckingham palace pulls in the visitors, if they opened it up to the public and told Betty Windsor to get a real job, then it would be a tourist goldmine.

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    Mute Danny Rigg
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    Nov 5th 2014, 5:25 PM

    That might be possible, but although the actual palace is owned by the state, much of the contents are owned by the royal family, so giving them the boot would also mean losing all of that

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    Mute cosmological
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    Nov 5th 2014, 2:55 PM

    I love this guy.

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    Mute Tony Hartigan
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    Nov 5th 2014, 6:37 PM

    Will he be checked for EBOLA on his return.

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    Mute R Neuville
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    Nov 5th 2014, 7:19 PM

    Michael D look closer to home to see Private Club Political Parties pass Jackboot laws to oppress the Irish.

    - Confiscate money from their pay and pensions for an odious and regressive tax (LPT) on Family Homes to satisfy the Banking Lobby.
    - €951 car tax for a 10 yr old car to satisfy the Car Dealer Lobby while new car owners get low tax.
    - Tax on every Toilet Flush!
    - No Rent control .. to satisfy the Landlord class lobby ………………

    Ireland a disgusting place to live. Bring Your Brains to the Polling Booths. Vote for those who will represent your interests, not the interests of Lobbies.

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    Mute Conor Dunne
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    Nov 21st 2014, 9:32 PM

    It`s a pity Sean Gallagher didn`t win the presidential election

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