Premier Foods is reportedly considering selling off some of its leading brands in a bid to even up its books.
The company, shares of which have fallen 87 per cent in a year, is £1.8 billion in debt. The Financial Times said Premier will look to offload brands like Mr Kipling cakes in a bid to recoup £200-300 million. Alternatively it may issue additional equity though chief executive Robert Schofield has voiced concerns about the company’s low stock price in terms of the feasibility of such a move.
Schofield does however remain staunchly optimistic about Premier’s prospects, given the market in which it operates. “We make soup, beans, salt and vinegar and people are eating in more,” he said.
Premier Foods’ other brands include Hovis, Branston, Bisto, Ambrosia and Oxo.