25 Nov 2019 --- US canned seafood giant Bumble Bee Foods has declared Chapter 11 bankruptcy following “legal challenges.” As a result, the company has entered into an asset purchase agreement with FCF Co., a seafood processor and distributor based in Kaohsiung City, Taiwan, in which the company will pay US$925 million for the assets. The declaration of bankruptcy will facilitate the sale and help Bumble Bee reduce its debt burden, according to the announcement. The company anticipates the transaction could close in 60 to 90 days.
