Bookers banks agree £700m refinancing
TROUBLED food distribution group Booker has agreed £700 million in refinancing with its banks to allow the company some relief on a debt that has now reached £500m.
Stuart Rose, chief executive, said talks were progressing to sell its food service business, which is worth over £100m.
Discussions were also continuing on the sale of the Arbour Acres chicken business.
Booker reported a £71m loss in the full year to December after £94m of exceptional charges.
The company said it expected to incur a further £50m of charges in the current year.
These relate to losses on the £4m disposal of its Booker Wholesale Foods operation.
- Booker hopes for US sell-off, FWi, 14 April, 1999
- Four bidders for Booker, FWi, 03 March, 1999
- The Times 16/04/02/99 page 29
- The Independent 16/04/02/99 page 21
- Financial Times 16/04/99 page 21
- The Guardian 16/04/99 page 21 (News in Brief)
- The Daily Telegraph 16/04/99 page 31
- The Scotsman 16/04/99 page 31