Kraft Heinz Food Has Serious Debt Problem

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Years of cutting costs are catching up to Kraft Heinz.

The food giant posted its latest earnings report Friday revealing long term debt of nearly 31 billion dollars.

That number is more than four times its reported earnings.

The bombshell announcement lead to a stock price drop of 27 percent; marking a new all-time low for the Warren Buffett-backed company.

The packaged-foods empire is already taking steps to up its cash flow.

It is rumored that executives may sell the Maxwell House Coffee business.

Once the country’s leading national brand to make up the dramatic loss.

The Securities and Exchange Commission is also currently investigating the company’s accounting practices. 

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