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Del Monte Foods, a legendary provider of canned fruits and vegetables, has filed for bankruptcy and will scout for a buyer.

The packaged-foods company has lined up $165 million in new bankruptcy loans and hopes to sell its assets as going concerns.

Canned fruit company Del Monte Foods filed for bankruptcy, less than a year after executing a controversial debt restructuring.

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.