consumers cutting back on their spending

138-year-old grocery store staple files for bankruptcy

Del Monte Foods, the 138-year-old company best known for its canned
fruits and vegetables, has filed for bankruptcy and is looking for a
buyer.
...
He said that the company has "faced challenges intensified by a
dynamic macroeconomic environment," notably consumers cutting back on
their spending and a growing shift toward spending on private labels.
...
Del Monte got its start in 1886 and built its famous cannery in San
Francisco in 1907. The company claims that it operated the largest
fruit and vegetable cannery in the world by 1909.

https://www.cnn.com/2025/07/02/food/del-monte-foods-bankruptcy