Struggling food manufacturer Premier Foods has been given a bit of breathing space by its bankers, who have agreed to defer the company's end-of-year loan covenant tests by three months.
The company, which a month ago issued a profits-warning and which has seen its share price dive by two-fifths since, said the agreement with its bankers forms part of the company's discussions about longer term refinancing of the group's debt and confirms ongoing bank support for the business.
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