Walnut Creek, CA — One of Walnut Creek’s oldest and best-known employers, Del Monte Foods, has filed for Chapter 11 bankruptcy and launched a court-supervised effort to sell the company, putting hundreds of local positions — and thousands nationwide — in limbo.
What Happened
Del Monte submitted its bankruptcy petition on July 1 in U.S. Bankruptcy Court in New Jersey. The canned-fruit and vegetable giant said the move will let it “accelerate our turnaround” while operations continue.
To keep the lights on, the company secured $912.5 million in debtor-in-possession financing, with another $165 million available for this summer’s packing season.
Why Jobs Are at Risk
- Immediate cuts: A separate decision to shut down a processing plant and two warehouses in Yakima, Washington, will eliminate 51 full-time roles and roughly 448 seasonal jobs starting Aug. 8.
- Broader uncertainty: In its bankruptcy filing, Del Monte revealed it employs about 2,780 people across North America. Those headquarters, manufacturing and sales jobs now depend on the outcome of the sale process.
Although the company says the Walnut Creek headquarters will remain open during restructuring, Del Monte is a big local employer. If the company can’t recover, jobs here in the 925 could be at risk…