Del Monte Foods announced this week it has filed for Chapter 11 bankruptcy protection as it seeks to sell the company. The company, known for selling canned fruits and vegetables, has been in business for 139 years, but says financial liabilities have put a strain on the business.

Del Monte Foods, the nearly 140-year-old canned food giant based in Walnut Creek, has filed for Chapter 11 bankruptcy protection and is seeking a buyer. Del Monte President and CEO Greg Longstreet said in a news release Tuesday that the California-based company had voluntarily filed for Chapter 11 bankruptcy at the U.

The company behind brands like College Inn and Kitchen Basics faces issues including rising debt, changing consumer habits and pandemic missteps.