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Something “Fishy”: Bumble Bee Files Chapter 11

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Background:

  • In 2017 Bumble Bee was fined for price fixing.
  • Fine was $25 million
  • The Fishy Cartel:   Chicken of the Sea and Star-Kist
  • Still owe $17 million

Outcome:

  • Taiwan company FCF Fishery bought for $925 million
  • FCF is Bumble Bee’s largest creditor

Eventually you get caught when you do something “fishy”.   

Always stay honest.   Something I stress to my bankruptcy clients.