Bumble Bee Foods filed for Chapter 11 bankruptcy protection in Delaware Thursday and announced it has agreed to sell the company for $925 million.
San Diego-based Bumble Bee Foods filed for Chapter 11 bankruptcy protection in Delaware on Thursday and announced it has agreed to sell the company's assets to Taiwan-based FCF Co. Ltd. for $925 million.
The company said it has"received new financing commitments from its existing lenders that will provide sufficient liquidity" to fund the business through the closing of the sale, which could happen within 60 to 90 days.E. coli outbreak: 17 sick; 75K pounds of packaged salad sold at Target, Walmart, other stores recalled
According to court records, $17 million of the fine remains outstanding and the company is facing other legal expenses.
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