Dairy Crest, the food company behind the Utterly Butterly and Cathedral Cheddar brands, says it will have to increase its bad debt provision as a result of one of its customers, Quadra, going into administration.
The company will increase its bad debt provision by up to £4m, as that is the total amount owed by Quadra although Dairy Crest says it is looking at several options to reduce the amount involved.
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