UK food group Uniq today (20 January) revealed that it is set to lose business worth GBP10m (US$15.9m) in sales from its desserts division.
The company said it had been given notice of the lost sales, which will affect its Minsterley facility and kick in from April. Uniq said the lost business would have a “negative impact” on the facility’s profitability.
Uniq had already started a review of its desserts operations after sales were hit by the group’s decision to raise prices this summer to offset higher dairy costs. The review will be finished in March.
The end of March is also the date by which Uniq hopes to complete its plans to refinance its pension deficit.
Uniq remains locked in talks with its pension trustee and the Pensions Regulator over plans that would see the trustees take a 90% stake in the company in exchange for giving up its claim on the group.
Shares in Uniq had slumped almost 10% to 6p at 15:10 GMT this afternoon.