Fyffes of bananas from overseas plantations. In May 1969, the company was renamed Fyffes Group Ltd, recognising the diversity and importance of the then (x-number) subsidiary companies. It became an Irish company following takeover by the Irish group FII plc in 1986. FII plc had been created when Torney Brothers & McCann, (the origins of that company were Charles McCann's apple exporting business founded in 1890) merged with United Fruit Importers Limited to form Fruit Importers of Ireland Limited in 1968. The combined company was initially known as FII Fyffes plc, but became simply Fyffes plc in 1989. In 2002 Fyffes
Fruit of the Loom of its American work force, were laid off. Farley also announced that company earnings fell 22 percent, despite a 10 percent increase in sales. Fruit of the Loom filed for Chapter 11 bankruptcy protection in 1999 shortly after posting a net loss of $576.2 million. Its 66 million shares of outstanding common stock dropped in value from about $44 per share in early 1997 to just more than $1 by spring 2000. Reasons for the bankruptcy are varied. A large debt load which was assumed in the 1980s, a common practice at the time, did not help. William F. "Bill"