Inter Link Foods today (17 May) claimed that other parties outside Irish food McCambridge are showing interest in the company.
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The UK bakery group said it is exploring a number of “strategic options” as it looks to turn around the business.
Earlier this month, Inter Link started tentative takeover talks with McCambridge, which has increased its stake in the company in recent weeks to 9%. However, other parties also seem to be eyeing Inter Link.
“The board has received a number of expressions of interest in both the group and its businesses,” Inter Link said. A range of alternative funding arrangements has also been put to the company as it looks to turn the business around.
Inter Link has issued two profit warnings so far this year. In a trading statement issued today, the company admitted that there has been “no material change” since its last update in March, when it forecast a loss for the year ending 5 May.
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By GlobalData“The group faces a range of significant challenges as we move into the first stage of the recovery,” said Inter Link chairman Jeremy Hamer.
However, Hamer was upbeat about the company’s prospect under new chief executive Ian Croxford. “The recovery plan is starting to take shape and Ian Croxford has moved quickly to implement a number of cost savings across the group,” Hamer added.
Inter Link, which makes Soreen malt loaves and private label cakes for supermarkets, operates from 12 bakery sites in the UK, and another bakery in Poland.
