Hearthside Food Solutions, a snack manufacturer backed by private equity, has filed for Chapter 11 bankruptcy in Texas due to difficulties in refinancing its debt.
The company, which produces various food products such as frozen burritos and crackers, has reported assets and liabilities ranging between $1 billion and $10 billion.
This bankruptcy filing comes after a challenging period for Hearthside, which was previously involved in a child labor scandal. The company is seeking to restructure its financial obligations in response to ongoing challenges in the snack food industry.