Losses at Abel & Cole have continued to grow as the organic box company suffered in the downturn.
The company posted losses of £27m for its last full year, up from a £3.5m deficit for the previous 10-month period.
Sales at the veg box provider rose 3% to £31.7m in the year to last August. But higher costs and one-off payments hit the company’s bottom line, according to the Daily Telegraph.
The company reportedly has debts of almost £40m.
Organic sales slump 13% in a year (12 April 2010)
Non-organic option in Abel & Cole boxes (19 September 2009)
Hard core stays loyal to organic (Abel & Cole analysis; 14 March 2009)