The recovery of troubled food giant Premier Foods is ‘mission possible’, concludes city analyst Shore Capital after meeting the firm last week (Friday May 11).
Premier Foods needs urgently to find a successor to ceo Robert Schofield, say industry sources, as the firm continues to hunt for an heir amidst rumoured pressure from institutional investors.
Premier Foods plans to close its distribution centre in Chandler’s Ford, Hampshire as it rationalises its south coast operations, while the firm has also rebuffed rumours of a management change.
Premier Foods could save far more cash through tackling the “mind-boggling” complexity of its procurement operation than trying to squeeze out operational efficiency savings, according to City analysts.
Bob Marsh is stepping down from his role as md of Food Processing Faraday to concentrate on his new job as leader of the Food Sector Team and deputy...