Thu 11/24/2022 12:29 PM
France-based private label confectionery producer Biscuit International’s earnings turned positive during the third quarter, but were still almost 90% down year over year as a result of volumes dropping and the group continuing to struggle to pass through input cost inflation. This left Biscuit International burning cash and having to draw down its RCF further to meet interest payments. But, with leverage now in the high teens, the group is unable to draw down the revolver any further, which...
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