America’s favorite orange juice brand is just barely squeezing by these days.
Tropicana, which was founded in 1947 and has been a household name ever since, is in financial trouble and might have to file for bankruptcy.
Tropicana’s revenue went down by 4% last quarter, and the company’s income decreased by 10%, according to CNN.
Another troubling sign for the orange juice maker is that its parent company, PAI Partners, recently gave Tropicana a $30 million loan.
There are also other issues leading to Tropicana’s decline, including Florida being hit by an increasing amount of hurricanes, insects causing oranges to rot on the trees and consumers foregoing orange juice altogether in favor of less sugary drinks.
Orange production is expected to be at its lowest in 88 years, according to the Department of Agriculture.
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Katherine Rodriguez can be reached at krodriguez@njadvancemedia.com. Have a tip? Tell us at nj.com/tips.
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