Dismal trading since Christmas has forced fish and produce giant Albert Fisher into urgent talks with lenders to renegotiate its finances. In a trading statement, the company warned profit for the year to August 31, 2002, was likely to be "materially lower than current market expectations" despite significant new business wins in chilled food and improved operational efficiency. Meanwhile, the expected benefits of the business reorganisation have been delayed by "business challenges in the short term" added the company. Fisher Foods is the leading supplier of frozen vegetables in the UK, but has suffered in recent months from price deflation in the frozen produce and fish sectors. {{NEWS }}

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