The debtor and 17 affiliates, which include S&W Fine Foods Inc. and Contadina Foods Inc., filed its petition in the U.S. Bankruptcy Court for the District of New Jersey on July 1, listing $1 billion to $10 billion in assets and liabilities.

It's touted as the oldest lobster company in the U.S. and its products can be found on shelves at several major grocery store chains.

Del Monte Foods announced July 1 it started Chapter 11 bankruptcy proceedings. The company said it plans to continue operations as usual during the bankruptcy process. Del Monte Foods announced July 1 it has started Chapter 11 bankruptcy proceedings.