Struggling Australian egg marketer Farm Pride is under pressure to restructure its operations after breaching one of its loan agreements.


The company, which has suffered under the growing demand for free-range products, said it had received notice from its bankers relating to a breach of one of its lending covenants.


In a filing to the ASX yesterday (12 January), Farm Pride said it is in talks with its bankers and in the process of “finalising details” relating to a new business finance agreement on existing terms and conditions.


“Given the tenor of recent discussions there is no reason to believe a new agreement will not be finalised over the next few weeks,” the firm said.


The company added that it is operating on a “business as usual” basis whilst a new agreement is finalised.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now