DMPL’s US subsidiary enters bankruptcy

Del Monte Pacific Ltd.’s (DMPL) United States (US) subsidiary, Del Monte Foods Holdings Ltd. (DMFHL), has filed for Chapter 11 bankruptcy in preparation for the liquidation of its assets, as directed by some of its creditors who recently took control of its board of directors.

- By JAMES A. LOYOLA

Last May 5, 2025, DMPL disclosed to the Philippine Stock Exchange (PSE) that a special shareholder formed by certain of the lenders of its US subsidiary has appointed a majority of directors to the board of DMFHL, and 25 percent of DMPL’s equity in DMFHL was transferred to the lenders.

It disclosed to the PSE on Wednesday, July 2, that “The newly constituted board of DMFHL has determined to pursue a value-maximizing sale process. The company has been advised that DMFHL has entered into a restructuring support agreement (RSA) with a group of its term lenders holding certain of DMFHL’s secured debt.”