The final recovery plan for the sinking Italian food group Parmalat will be presented today.

Enrico Bondi, the business consultant recruited by the Italian Government to rescue the group will present the plan to Antonio Marzano, the Industry Minister.

Parmalat went into administration on December 30, 2003 after a E40bn hole was discovered in its accounts.

The Times today noted that Signor Bondi will not request the 90-day extension available to him under Italian law.