Del Monte is preparing to file for bankruptcy as soon as within the next few weeks amid liquidity problems, sources told 9fin.

The company is less than a year removed from a liability management exercise in which it raised $240m in new money. The LME involved dropping certain assets into an unrestricted subsidiary and exchanging its $725m term loan due 2029 into new second and third-out tranches issued by the new subsidiary, Del Monte Foods Corporation II Inc.

Balance sheet issues persisted for the company, with S&P and Moody’s earlier this year citing tight liquidity, high leverage and low demand for its packaged food products.