Pic-Nervouscity
Our third most popular news story of the year, “Nervous City expects more trouble from Premier Foods”, was published in October. This article was also the most popular article of the past six months.
Investment firm Exane BNP Paribas described Premier’s third quarter performance as “shocking” and the collapse in profit forecasts as “eye watering”.
To read the article, click here.
What happened next? In November the firm renegotiated its covenants test with its banks to run from November 2011 to March 2012.
In December Premier sold its RF Brookes and Avana Bakeries business for £30M and its Irish brands for £37.4M.