Bernard Matthews, which was hit by an avian flu outbreak in February this year, has reportedly refinanced its business by securing its future against its stock of turkeys.

The turkey producer has refinanced through an asset finance deal with Burdale, a subsidiary of Bank of Ireland, and supported by a handful of lenders, according to reports in the Sunday Telegraph.

Last month, figures from Nielsen revealed turkey sales remain in a major slump since the avian flu outbreak, with sales down 27% year-on-year and 1.8 million fewer households buying turkeys.