Dairy Crest's £4M bad debt after Quadra calls in administrators

By Mike Stones

- Last updated on GMT

Dairystix producer Quadra Foods has called in the administrators leaving Dairy Crest with £4M of bad debt
Dairystix producer Quadra Foods has called in the administrators leaving Dairy Crest with £4M of bad debt

Related tags: Milk

Dairy foods firm Dairy Crest has increased its bad debt provision by £4M after one of its customers Quadra Foods called in the administrators.

The firm said that £4M was the total debt owed by Quadra and that it was examining options to reduce the amount involved.

We expect to treat any charge as an exceptional item in 2011/12 and as such it will not impact on our dividend considerations,”​ according to a statement from the firm.

Isolated incident

“Dairy Crest has annual sales of £1.6bn and this is an isolated incident. It will have no material effect on our year end borrowings.”

The Farmright Group, which includes Quadra Foods, went into administration last week. Quadra produces a range of dairy products, including milk in laminated sachets under the brand name Dairystix.

The Plymouth-group employs about 100 people at its head office on the Langage Science Park in Plymouth.

Related topics: Dairy, Dairy-based ingredients

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1 comment

Debts owed to Dairy Crest

Posted by david sweeney,

We know about Quadra Food's debt of £4M owed to Dairy Crest.I wonder how much more debt it is owed?
Why did it let the debt grow so large?
If you are a customer of Dairy Crest household milk and you owe over five weeks milk mone. it will stop your milk.

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