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The fifth most popular article of the past six months was "Premier Foods still has battle on hands, say analysts" (November 1).
City analysts told us that Premier Foods still had a mountain to climb despite ceo Michael Clarke’s decision to restructure the business and appoint two new managing directors.
Shore Capital analyst Clive Black said: “It is not uncommon for a new ceo to make organisational and structural changes. Especially when considering the dire performance of the business over the past few months. It was clear fundamental changes were needed both organisationally and structurally.”
“The decision shows clarity of thought, but what the firm needs is refinancing and to get the millstone of debt of its back. This is just another game plan and not delivery, that’s for sure.”
To read the full article, click here.
What happened next? In December, Premier announced the sale of itsRF Brookes and Avana Bakeries for £30M and its Irish Brands business for £37.4M.
Watch out for our photogallery charting the five most popular articles of the year to be published on December 23.