date:Oct 25, 2012
Hovis manufacturer Premier Foods has lost a contract worth 75M with an unnamed grocery chain, according to its latest interim management statement.
The firm said: Following a recent business review, and consistent with its approach to improving sustainable profitability in bread, the company will be unable to renew a bread contract it holds with a retail customer with effect from mid 2013.
This contract loss accounts for approximately 75m annual sales, has very low margins, is costly to servic