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Bumble Bee Files Bankruptcy After Price-Fixing Fines, Lawsuits

Nov. 21, 2019, 6:56 PM

Bumble Bee Foods LLC, the largest North American brand of packaged seafood, filed for bankruptcy amid criminal fines and civil lawsuits stemming from a federal price-fixing case with plans for its assets to be acquired by FCF Co. for about $925 million.

The canned-tuna purveyor sought creditor protection under Chapter 11 in Wilmington, Delaware, listing assets and liabilities of as much as $1 billion each, according to court papers.

The company said in a statement it has financing from existing lenders to keep operating while it works out the sale with Taiwan-based FCF.

Bumble Bee, based in San Diego ...