Fair 76°
Tag:

Financing

Business
Canned Food Giant Declares Bankruptcy As Trump's Aluminum, Steel Tariffs Hurt Industry Canned Food Giant Declares Bankruptcy As Trump's Aluminum, Steel Tariffs Hurt Industry
Canned Food Giant Declares Bankruptcy As Trump's Aluminum, Steel Tariffs Hurt Industry Del Monte Foods is filing for bankruptcy as the canned food giant looks to stay in business amid rising packaging costs and supply disruptions tied to President Donald Trump's steel tariffs. Del Monte announced it filed for Chapter 11 in New Jersey federal court in a news release on Tuesday, July 1. The company plans to sell as it restructures nearly $1 billion in debt during the bankruptcy proceedings. The move comes as the canned goods industry has warned about rising costs due to Trump's 50% tariffs on aluminum and steel imports. "This is a strategic step forward for Del Monte…

SHARE

by Chris Spiker
Business
Big Lots Expands Store Closures Amid Bankruptcy Filing: Here's CT Rundown Big Lots Expands Store Closures Amid Bankruptcy Filing: Here's CT Rundown
Big Lots Expands Store Closures Amid Bankruptcy Filing: Here's CT Rundown Discount retail chain Big Lots has filed for bankruptcy as its list of planned store closures expands. It currently has around 1,425 stores nationwide. The company announced on Monday, Sept. 9 that it will sell its assets to an affiliate of private equity firm Nexus Capital Management. In announcing initial store closures late in late July, Big Lots said a bankruptcy filing could be coming. Stores in the Northeast now slated for closure are as follows: New York Delaware Avenue, Buffalo South Ogden Street, Buffalo Route 5 & 20, Canandaigua  Voice Road, Carle Place Centereach …

SHARE

by Joe Lombardi