Premier Foods examines ways of cutting debt
Published Date:
13 October 2008
PREMIER Foods, Britain's biggest food manufacturer, said today it was examining ways to cut debt and has been approached by several parties with proposals to enable it to do so.
Premier, which had net debt of about £1.8bn ($3.11 billion) at the end of June partly due to its acquisitions of RHM and Campbell's in 2007, said it is examining these proposals among other options.
The group, which makes Hovis bread, Mr Kipling cakes, and Branston pickle, said trading continues to be broadly in line with expectations.
In July, Premier Foods announced that it was set to close its mill in Rotherham with the loss of nearly 40 jobs as it looked to save costs at a time of soaring wheat and energy prices.
Premier said 38 staff would be affected by the closure and the group was hoping to relocate a number of employees within the company.
Premier has several neighbouring facilities including Manor Bakeries in Wakefield, a mill in Selby and a baking operation based in Bradford.
It also owns Quorn, which employs 360 people at Stokesley, North Yorkshire and Teesside.
The full article contains 206 words and appears in n/a newspaper.
-
Last Updated:
14 October 2008 7:27 AM
-
Source:
n/a
-
Location:
Yorkshire
