Del Monte Foods, a beloved grocery staple and producer of canned fruits and vegetables for nearly 139 years, has filed for Chapter 11 bankruptcy protection. The company announced plans to pursue a sale while navigating financial challenges and restructuring efforts. This decision follows significant debt restructuring issues and aims to maximize value for stakeholders. The bankruptcy proceedings also impact major retailers, with Uber Freight anticipating a $9 million hit. Fresh Del Monte Foods is seeking a buyer as it looks to secure its financial position amid ongoing challenges in the food sector.