Irish food giant Aryzta reports loss of €900 million

Company pays out €10 million in severance payments to former executives

25th September, 2017
Aryzta owns the Cuisine de France brand

Aryzta, the Irish Swiss food company, has swung to a €900 million loss it revealed today, as a result of huge writedowns on its US bakeries and falling sales.

The company, which owns the Cuisine de France brand, reported a loss for the year to end of July of €907 million compared with a prior year profit of €112 million. Revenues fell by just over 2% to €3.8 billion. The non-cash impairment charges came to...

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