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This 139-Year-Old, Iconic American Brand Just Made a Mistake No Company Should Make Del Monte filed for bankruptcy. It’s CEO’s confusing statement is a lesson for every leader.

A well-known grocery store brand, which has long sold canned fruits and vegetables, has filed for bankruptcy. Del Monte Foods, a 138-year old company, filed for Chapter 11 bankruptcy on Thursday.

Grocery store mainstay Del Monte Foods is undergoing a restructuring to shed old debts and remain in business. That doesn't mean it's leaving shelves.

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Del Monte, the 139-year-old canned food brand, filed for Chapter 11 bankruptcy and started a sale process for its assets.