Originally published at: Uber Freight Faces $9M Hit in Del Monte’s $1B Bankruptcy - FreightWaves
One of the Largest Food Shipper Bankruptcies in Years Del Monte Foods Corporation has filed for Chapter 11 bankruptcy, listing more than $1 billion in liabilities and over 10,000 creditors. The case, filed in the U.S. District of New Jersey, ranks among the largest food shipper bankruptcies in recent years, given the company’s national footprint…
At least CHEP did not extend more than 2,303 - 17 Pallet Truckloads say $12 per pallet.
Really Uber DSO and extending that much credit?
A standard pallet of Del Monte Blue Lake Fancy Cut Green Beans, #10 cans, weighs approximately 2,474 lbs (1122 kg). Each case weighs 44.18 lbs, and a pallet holds 56 cases - 17 pallets per truck.
Sold at Sams Club for $5.28 a can. Case is 6 Cans ($31.68) so scaled up to FTL Retail Value is $30,159 how do you make money selling Beans. You do not possible the money is in the fruit.
Just saying you can’t extend credit this far out.
These companies hire whatever broker showers them with freebies. Sometimes free employees to coordinate loads. Sometimes free shipments when you consider the low rates.