Avian flu sends 2 Sisters deeper into debt
Avian influenza and IT woes sent 2 Sisters Food Group deeper into debt in March, when it posted its quarter two results for the 13 weeks to the end of January.
The poultry processor added an extra £21.5M to its debt, taking it to a total of £702.2M
The firm’s boss Ranjit Singh said it had suffered from a shortfall in availability of chickens, which impacted sales and operational efficiency.
What happened next: By the end of the year, things weren’t looking any rosier for 2 Sisters as it reported sales and operating profit had both fallen.
Sales were down 3.5% to £778.3M in the 13 weeks to October 31.