Chiquita Brands International Inc. is burning through cashfaster than any U.S. packaged-foods company after its $855 million2005 purchase of Fresh Express Inc. in a bid to diversify intosalads failed to raise profit.

The owner of the namesake banana label is consuming funds at arate that would exhaust its $53 million of cash in fewer than eightmonths, down from 131 months two years ago, according to datacompiled by Bloomberg. The firm's $200 million 4.25 percentconvertible securities, which traded above face value last year,have dropped to 79 cents on the dollar.

Chiquita, which agreed in June to limit capital spending inexchange for loosened loan covenants, is working to trim costs asdeclining earnings raise leverage to the most since 2007. Sales of$953 million by the salads and healthy snacks unit in 2011 are down20 percent since the purchase of Fresh Express as customers such asWal-Mart Stores Inc. favor their own brands.