cm0002@lemmy.world to United States | News & Politics@midwest.social · 6 days agoDel Monte Foods seeks buyer as it initiates US bankruptcy proceedingswww.reuters.comexternal-linkmessage-square3fedilinkarrow-up119arrow-down11
arrow-up118arrow-down1external-linkDel Monte Foods seeks buyer as it initiates US bankruptcy proceedingswww.reuters.comcm0002@lemmy.world to United States | News & Politics@midwest.social · 6 days agomessage-square3fedilink
minus-squarereddig33@lemmy.worldlinkfedilinkEnglisharrow-up3·6 days agoHow does the brand with the top sellers in the category go bankrupt? “Several Del Monte products hold the number one or two market share position.” https://en.m.wikipedia.org/wiki/Del_Monte_Foods
minus-squareAscrod@midwest.sociallinkfedilinkEnglisharrow-up2·6 days agoThe investor fact sheet sourced for that line is over a decade old. I can’t say for sure how things have changed since then that could cause bankruptcy though… maybe people are preferring more products labled “natural” and “organic”?
minus-squarereddig33@lemmy.worldlinkfedilinkEnglisharrow-up2·3 days agoI read an MSN story that said they were bought by an outfit in the Philippines and then saddled with a bunch of debt. What a waste.
How does the brand with the top sellers in the category go bankrupt?
“Several Del Monte products hold the number one or two market share position.”
https://en.m.wikipedia.org/wiki/Del_Monte_Foods
The investor fact sheet sourced for that line is over a decade old.
I can’t say for sure how things have changed since then that could cause bankruptcy though… maybe people are preferring more products labled “natural” and “organic”?
I read an MSN story that said they were bought by an outfit in the Philippines and then saddled with a bunch of debt. What a waste.