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Premier looks to cut crippling debt

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Published Date: 13 October 2008
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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  • Last Updated: 13 October 2008 9:48 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
 
1

observer9,

Glasgow 13/10/2008 18:47:30
This was a great company until the MBA mindset took over.

Over egoed newbies fooling brain dead suits who served too long and have been proven to be useless across the board.

The bosses were not innovative enough themsleves to be creative so they hired over priced consultants to introduce change management resulting in under performing, hyper costly, valueless programmes that delivered almost zero benefits.

When Oh when will people get real, get back to basics and tell the big consultancies to eff off and get people in who know what they are doing, people who are experienced and can deliver working practices that are delivered swiftly, do what they are supposed to and don't cost a packet.

2

materialise,

Nantwich 13/10/2008 22:53:05
Have the board of this company been taking advice from bankers in how to be incompetent.

According to "Marketers", Brands have an intrinsic value of their own, a value that can actually be calculated into a balance sheet but this proves what a load of cobblers that is.

Premier Foods brands are some of the most well known on our shores, so how come they have gotten into this state.?

Hovis,Batchelors,Cadbury's and Branston are only some of their product line. Maybe get interbrand in to create new marques. Hubris and Downfall have a nice ring to them.

My point is this, is there anyone on any board in this country who has instinct, people who dont need focus groups, people who can do things, themselves.

 

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