Criticism hurled at Tesco, jobs under threat at Hovis a number of food and drink manufacturers posting positive financial results lead this week’s top headlines.
40 jobs are threatened at logistics firm Swansea Bakeries Limited (SBL) amid proposals to shift its contract to handle logistics for Premier Foods’ Hovis brand to Hovis’ Avonmouth depot.
Premier Foods’ plans to sell its troubled Hovis plant bakery business should become clearer over the coming months, as news emerged towards the end of last year that a shortlist of three candidates were interested in buying or investing in the business.
Premier Foods was the subject of media reports surrounding the sale of £100M of its debt and its Hovis brand – as well as seeing a number of its directors quit the company – over the last 12 months.
Premier Foods is remaining tight-lipped about reports that the Mexican bakery Grupo Bimbo may acquire its troubled bread division, as the firm’s short-term prospects divided City opinion.
The closure of Premier Foods’ Barry mill in the Vale of Glamorgan – with the loss of 43 jobs last week – and plans to reorganise its milling business into two parts could herald its sale, according to City analyst Investec.
The boss of Britain’s biggest food manufacturer, Premier Foods, has quit the debt-laden company today (January 28) after only 18 months, in a move that surprised City analysts.
Britain’s biggest food manufacturer Premier Foods revealed plans yesterday (January 10) to close its Glasgow flour mill, casting doubt over the future of 15 jobs at the Dunaskin Street site.
News that debt-laden giant Premier Foods plans to axe 900 jobs, close two bakeries and restructure its distribution system was greeted with fury by unions and applause by City analysts.
Britain’s biggest food manufacturer Premier Foods reported a 2% rise in underlying sales growth in an interim management statement covering the three months to September 30 that drew both praise and relief from City analysts.
Shares in Premier Foods have retained a ‘Buy’ recommendation from investment and banking firm Investec, ahead of its interim results, which will be published tomorrow (August 7).
Premier Foods is consulting with 140 staff employed over the closure of its Hovis head office in Windsor, with some job losses possible, while further redundancies will occur at the division's Avonmouth bakery.
Analysts have questioned chief executive Robert Schofield’s continued presence at Premier Foods, as the company reported a 3.1% decline in first quarter sales today.
A considerable number of workers at Hovis's bakery in Avonmouth could face redundancy as a result of plans to invest £4-5m in automating site processes, the Bakers Food & Allied Workers Union (BFAWU) has confirmed.
Premier Foods will need to turn things around pretty quickly over the coming months or patience in its chief executive could run out, City analysts and corporate finance sources have warned.
Premier Foods has promoted Hovis and chilled food boss Tim Kelly into the newly-created role of chief operating officer in a bid to "align its structure more closely" with its stated aim of "brand-building and innovation".
The "likely source" of the glass that has allegedly been found in selected Hovis Hearty Oats loaves has been identified as refurbishment work on a storage silo, brand owner Premier Foods has revealed.
