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Findus to Restructure Debt

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Findus to Restructure Debt

Findus to Restructure Debt
January 04
11:27 2012

Frozen foods manufacturer Findus is reported to be renegotiating over £700 million of loans with its banks and other creditors. High interest payments impacted on operating profits in its 2010 financial year, leaving Findus with a net loss of £151.6 million.

Findus, which incorporates Young’s Seafood in the UK, is the top branded frozen food producer in the Nordic region, enjoying leading positions in the fish, vegetables and ready meals categories in Sweden, Norway and Finland. The group employs more than 6,000 people across its 21 production sites and manufactures 345,000 tonnes of food annually.

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