Bumble Bee Goes Belly Up; Fishy Deals Leads To Chapter 11…The Final Chapter

Bubble Bee Foods, the  company behind the canned tuna brand is filing for bankruptcy.

The San Diego-based corporation is seeking Chapter 11 protection.

For several years, it’s faced mounting legal costs associated with a federal price-fixing scandal.

Two years ago, Bumble Bee admitted that it worked with rivals Chicken of the Sea and Starkist to jack up canned tuna prices.

Bumble Bee  still owes 17-million in fines and continues to face several class-action lawsuits.

It’s expected they’ll be acquired out of bankruptcy by a tuna supply company.

 

(AP Photo/Nick Ut)