NETHERLANDS: Ahold summoned to court over accounts
Dutch retail giant Ahold has announced that it has been served by the VEB (Association of Dutch Stockholders) with a summons to appear before the Enterprise Chamber of the Amsterdam Court of Appeals regarding the company's accounts.
The VEB has filed a claim asking that the annual accounts for fiscal years 1998, 1999, 2000, 2001 and 2002 be nullified and that Ahold be ordered to restate its accounts and related annual reports for such periods.
Ahold has called the claim "unfounded" and said it intends to vigorously oppose it.
The VEB wants Ahold to restate the accounts because of last year's accounting scandal at the company, in which earnings were overstated. The VEB also said the accounts should be restated because of improper consolidation of retail subsidiaries in Europe, reported Reuters.
Dutch retailer Ahold has announced the completion of the sale of its chain of 198 Wilson Farms and Sugarcreek convenience stores, part of its US subsidiary Tops Markets....
Dutch retailer Ahold has announced that Kerry Underhill has been appointed senior vice president corporate communications, effective 1 July 2005....
Dutch retailer Ahold has reported sales and operating income little changed in the first quarter of 2005, but net income was sharply down because of a one time gain in the first quarter last year....
Dutch retailer Ahold has announced today (Tuesday) that its chief financial officer Hannu Ryöppönen is to leave the company....
Danish based dairy company Arla Foods is opening a new representative office in Hungary....
Dutch retailer Ahold today (Wednesday) announced that it had signed a new €2bn (US$2.5bn) credit facility with a syndicate of fifteen banks. ...
Dutch retail giant Ahold has said its net sales declined 1.0% to €13.0bn (US$16.5bn) for the first quarter of 2005....
Supermarket company Giant Food, a subsidiary of Dutch retailer Royal Ahold's US arm Ahold USA, has announced restructuring plans for the remainder of 2005 and 2006....
- Interview: Sir Kensington's on sale to Unilever
- Interview: "Disruptive" snack brand Hippeas
- Column: Why snacking is the new meal
- Analysis: Post discusses rationale for Weetabix
- Nestle Q1 update: four things to learn
- Tyson shops Sara Lee bakery, Kettle and Van's
- Unilever buys US condiments maker Sir Kensington's
- Icelandic to sell Saucy Fish Co. owner Seachill
- Tyson to buy burger-to-entree firm AdvancePierre
- Nestle to cut UK confectionery jobs