alt Hacker NewsThanks for your answers!
> Del Monte was killed by COVID. Canned food sales spiked and they thought that would last, but it didn't.
Why can’t they reduce to their former size? It seems the California plants had been around long before Covid
Replies
LeoPanthera • yesterday at 6:50 PM
They permanently closed their Modesto and Hughson canneries in early 2026, and voided 20-year contracts with around 70 California cling peach growers.
Debt financing means you can basically never reduce back down, the debt load kills you (as it did here).
If anything would have been profitable spun off, it would have been spun off in the bankruptcy.