Debt

Brewery Tom Woods Beers has entered into administration after failing to pay its creditors

Independent brewery falls into administration

By Gwen Ridler

An independent brewery has fallen into administration, after failing to pay back its creditors as part of a finance deal known as a Company Voluntary Agreement (CVA).

Milk First posted a rise in profits in its interim report. Image copyright Flickr user Endre Majoros

Milk processor posts profit growth

By Gwen Ridler

First Milk has posted an £8M rise in profit since last year in its interim financial report for the six months to September 30 2016, following a “radical transformation” of the company.

Morrisons Market Street and vertical integration offered a key point of difference to shoppers

Morrisons boss’s customer focus ‘begins to pay off’

By Michael Stones

Morrisons boss David Potts’s customer focus is paying off – with its food manufacturing capability playing a key role – but much more needs to be achieved if the business is to achieve its potential, according to city analyst Shore Capital.

Fleximize will offer loans to businesses that have already been refused money by banks

SMEs rejected by banks offered financing

By Laurence Gibbons

Small and medium-sized enterprises (SMEs) in the food and drink sector could benefit from an innovative and flexible source of financing if they have previously been rejected by banks, according to a new company launched this week.

Premier Foods brands include Hovis, Mr Kipling and Ambrosia

Mystery surrounds Premier Foods report

By Rod Addy

Mystery surrounds recent reports that Premier Foods has sold £100M worth of its debt to US private equity house Apollo Global Management.

Bakkavör specialises in fresh prepared foods

Bakkavör cash to power business strategy

By Rod Addy

The completion of chilled food firm Bakkavör’s refinancing plans has enabled it to move its business strategy forward, ceo Ágúst Gudmundsson has claimed.

The Iceland quoted Bakkavör has a syndicated bank facility of £380M

Bakkavör founders could reinvest in the business

By Mike Stones

The two Icelandic food entrepreneurs who founded the own-label food manufacturing business Bakkavör could acquire up to a quarter of the group’s shares, following financial restructuring talks.

British banks seem unwilling to lend food manufacturers the money they need to unlock innovation

Banks 'stifle food manufacturers’ innovation'

By Freddie Dawson and Mike Stones

British banks’ failure to understand the food manufacturing sector is choking industry innovation, warned speakers at a conference in London this week.

City split on Northern's plan for brands

City split on Northern's plan for brands

By Ben Bouckley

The City is uncertain about Ranjit Boparan’s plans for Northern Foods, with analysts divided on whether he needs to sell brands such as Fox's Biscuits and Goodfella's to pay down debt following his £342m takeover.

‘Whither now for Northern Foods?’ ask unions

‘Whither now for Northern Foods?’ ask unions

By Ben Bouckley and Graham Holter

Union leaders have expressed concerns about Ranjit Boparan’s intentions after he completes his £342m takeover of Northern Foods and begins to identify cost savings that could mean office closures or job losses.

Abbeydale Foods saves two firms from administration

Abbeydale Foods saves two firms from administration

By Ben Bouckley

Two food firms that closed in early March have been bought out of administration, with new owner Abbeydale Foods re-employing around 80 former staff in a bid to restart production as quickly as possible.

Schofield: Exploring the bond market

Premier Foods explores new sources of funding

By Elaine Watson

A complex piece of financial restructuring that Premier Foods claims will further improve the health of its balance sheet has been greeted by City analysts as a “welcome step forward” for the heavily indebted company.

Mergers take over

Mergers take over

There will be continued consolidation in the food industry this year, but reduced access to finance means a growing proportion of firms may opt for...

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