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Premier looks to cut crippling debt
HOVIS owner Premier Foods has confirmed it is looking at ways of cutting its debt. A number of private equity groups have approached the company to discuss deals which would result in a cash injection to cut its crippling debt.
The group, which makes Hovis bread and Branston pickle, had net debt of about 1.8 billion pounds at the end of June. A spokesman for Premier Foods said: "The group has been approached by several parties with proposals in line with this stated priority. The group is examining these proposals amongst other options and a further statement will be made as and when appropriate."
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Friday 25 May 2012
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