Struggling Premier Foods’ recent covenants deferral deal significantly reduces the probability that the firm will enter liquidation, according to investment and banking firm Investec.
Analysts believe that Premier Foods will come under intensifying pressure to sell off some of its businesses following this week’s deal with its banks.
Struggling Premier Foods has been handed some much-needed respite in its quest to renegotiate its debt arrangements after its banks agreed to a deferral of its forthcoming covenants test.
An increase in promotional activity due to competitive consumer spending across the UK and Ireland has blunted performance in Kerry Foods third quarter results, the firm has said.
As the search for the mystery suitor of Greencore continues, experts have ruled out food magnate Ranjit Boparan as a potential buyer saying there is “absolutely no possibility” that the 2 Sisters boss could be a contender.
Price rises in coffee and other commodities have lead to “significant gains” for US snack firm Kraft after it announced positive financial results in Europe for the seventh consecutive quarter.
Food packaging firm Veriplast UK has left 67 employees with the choice of losing their jobs or relocating to Holland after the firm announced the closure of its factory in County Durham.
Food and drink manufacturers must get to grips with new regulations to control the use of refrigerant gases or risk prosecution, warns a specialist in the field.
Troubled food giant Premier Foods still has a mountain to climb despite ceo Michael Clarke’s decision to restructure the business and appoint two new managing director (mds), according to city analysts.
There is just one week to go before the stellar evening when food and drink manufacturers celebrate the best of the best at the Food Manufacturing Excellence Awards.
Scottish firm Ryan’s Foods has been shut down and had a number of its products recalled after Glasgow City Council discovered it to be manufacturing meals and selling on a wholesale basis without legal permission.
A social media campaign that could “provide a pipeline of talent into the industry” was announced by the Food and Drink Federation (FDF) earlier this week.
Mounting pressure on dwindling water resources means that food manufacturers must cut consumption sooner rather than later, according to the Chartered Institute of Marketing (CIM).
Tillery Valley, the national meal provider to the healthcare, education and local authority sectors, was one of the first companies in Wales to support the recent opening of the national food poverty and food re-distribution charity FareShare's Cardiff...
Yearsley Group, one of the UK's largest cold storage and distribution providers, has installed solar panels at two of its cold stores in England in a project that has cost the firm £2.2M.
Samworth Brothers' chief executive Brian Stein will have the satisfaction of looking back on 16 years of successful leadership of the chilled foods manufacturer when he passes on the reins next year. Stein has helped create a hugely successful business,...
Last month's news that Uniq's Minsterley desserts plant in Shropshire lost a further £1.1M over the past six months has raised further questions about the troubled facility's future viability.
News that Denmark is to become the first country in the world to introduce a tax on foods with saturated fat, in a bid to foster healthy eating, has sharply divided British opinion.
Ginsters has overcome supply issues to become the first manufacturer to secure 100% sustainable palm oil in the category of branded savoury pastries, in co-operation with fats and oils supplier AAK.
Laila’s Fine Foods is reporting substantial growth in frozen and chilled ready meals as Mintel figures suggest the UK market is experiencing significant growth.
Food Manufacture magazine, the sister publication of FoodManufacture.co.uk, has been redesigned to meet the needs of 21st century food and drink industry professionals.
News that 350 people are to lose their jobs at Uniq’s Minsterley creamery is linked to Greencore’s £113m bid for the chilled foods firm and underlines the need for a ‘Cadbury’s Law’ to protect workers’ interests, argues Unite the Union.
Despite failing to secure funding on Dragons’ Den, Mexican food firm md Marcela Flores-Newburn has secured investment for her company from a Northamptonshire business consortium.
Chilled foods firm Uniq has announced that production of ‘everyday’ desserts will end at Minsterley in the first half of 2012 with the loss of around 350 jobs.
Pioneering Oxford technology firm Spice Application Systems (SAS) has grown overall sales by 20% so far this year, but admits the UK market is lagging behind Europe in uptake terms.
Industry must learn crucial communication lessons from past “techno disasters” such as GM and asbestos to ensure greater consumer acceptance of new technologies such as nanotechnology, according to scientific think tank Matter.
Premier Foods group sales director Ian York will leave the company at the end of the year to pursue "other business interests", a spokesman has confirmed to FoodManufacture.co.uk.
Premier Foods shares rose slightly this morning after an announcement that new ceo Michael Clarke will start work next week, as one City analyst warned that the firm's shares are currently "un-investable".
Despite fears of sovereign downgrades and tumbling share prices, UK food and drink manufacturers increased their output by 0.5% in June 2011, but many are suffering pain from rising input prices.
Samworth Brothers is hoping to turnover around £1bn within three years, as the Leicester firm confirmed that it will create at least 70 new jobs at its Kettleby Foods business.
Sous Vide Supreme has hit back after FoodManufacture.co.uk published an article in which a food safety expert warned that homemade sous vide food could cause botulism.
Southall food manufaturer Quality Foods has been fined more than £16,000 for numerous food hygeine offences after council inspectors found glass in a samosa, ingredients buckets covered in slime and machines covered in caked-on food and grease.
