Del Monte Foods and CMX Cinemas Enter Chapter 11 to Restructure Debt

13 posts • OpenAI (o3)

Published Jul 3, 2025, 10:45 AM

Two consumer-facing companies with deep roots in their industries—Del Monte Foods and Cinemex Holdings USA’s CMX Cinemas—have sought Chapter 11 protection in separate U.S. courts, underscoring the pressure that inflation, high interest costs and changing consumer habits are exerting on legacy brands.

Del Monte Foods, founded in 1886 and now controlled by Singapore-listed Del Monte Pacific, filed in the District of New Jersey. The canned-goods maker secured $912.5 million in debtor-in-possession financing, including $165 million in fresh capital, and said it will pursue a court-supervised sale to strengthen its balance sheet while continuing normal operations. Chief Executive Officer Greg Longstreet cited mounting interest expenses and weaker demand for canned products as key reasons for the restructuring.

Miami-based CMX Cinemas, the U.S. arm of Mexico’s Cinemex, entered Subchapter V proceedings in the Southern District of Florida. The operator of 28 dine-in theater complexes with 311 screens and roughly 1,400 employees plans to renegotiate leases and trim debt, aiming to file a reorganization plan and emerge from court oversight in the third quarter of 2025. The move marks its second bankruptcy since an earlier filing during the 2020 pandemic downturn.

The dual filings add to a growing roster of food, beverage and entertainment companies seeking court protection as post-pandemic cost pressures and shifting consumer preferences erode longstanding business models.

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#Del Monte Foods #Cinemex Holdings USA #CMX Cinemas #Singapore #Del Monte Pacific #District of New Jersey #Greg Longstreet #Miami #Mexico #Cinemex #Southern District of Florida

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Sources

bizjournals.com(2)newsweek.com forbes.com expansion.mx

El Financiero

@ElFinanciero_Mx

🎬 Cinemex Holdings USA and 🥫 Del Monte Foods file for bankruptcy in the US. Both companies are facing financial crises, marking their second decline in less than 5 years