Troubled US food distributor Fleming has delayed supplies to customers as its suppliers have held back on orders after it filed for bankruptcy last week.
Fleming's interim CEO Pete Willmott has written to its retail customers to assure them the company has $100m in cash receipts to pay its suppliers, despite delays in putting in place a financing agreement. Fleming filed for Chapter 11 protection after it lost a $4.5bn contract to supply food and discount retailer Kmart, which filed for bankruptcy last year.
n lee scandal
US packaged goods giant Sara Lee has confirmed three sales executives have been implicated in the accounting scandal surrounding the US Foodservice business of Ahold.
Sara Lee said the trio had been "relieved" of their sales responsibilities after it was revealed they had confirmed to auditors inaccurate and higher amounts owed to US Foodservice.
Head of Sara Lee Steven McMillian said: "We want to emphasise Sara Lee is not the focus of this probe, and this discovery in no way affects our results."
n more yakult
French food group Danone has increased its stake in the Japanese dairy company Yakult Honsha.
Yakult Honsha has a 10% share of the Japanese non-alcoholic drinks market on the back of its flagship functional yogurt drink Yakult.
Danone described the move to increase its stake from 5% to 19% in Yakult Honsha as a "long-term investment reflecting Danone's confidence in the company and its management"
n vanilla rival
PepsiCo will launch vanilla-flavoured cola Pepsi Vanilla in the US this summer, a year after arch rival Coca-Cola went to market with Vanilla Coke.
A raft of product promotions to drive its soft drinks sales include TV game show Pepsi Play For A Billion'.
A new orange-flavoured Mountain Dew variant LiveWire will also be launched, boosted by a tie-in with Universal Pictures film The Hulk'.
{{NEWS }}
Fleming's interim CEO Pete Willmott has written to its retail customers to assure them the company has $100m in cash receipts to pay its suppliers, despite delays in putting in place a financing agreement. Fleming filed for Chapter 11 protection after it lost a $4.5bn contract to supply food and discount retailer Kmart, which filed for bankruptcy last year.
n lee scandal
US packaged goods giant Sara Lee has confirmed three sales executives have been implicated in the accounting scandal surrounding the US Foodservice business of Ahold.
Sara Lee said the trio had been "relieved" of their sales responsibilities after it was revealed they had confirmed to auditors inaccurate and higher amounts owed to US Foodservice.
Head of Sara Lee Steven McMillian said: "We want to emphasise Sara Lee is not the focus of this probe, and this discovery in no way affects our results."
n more yakult
French food group Danone has increased its stake in the Japanese dairy company Yakult Honsha.
Yakult Honsha has a 10% share of the Japanese non-alcoholic drinks market on the back of its flagship functional yogurt drink Yakult.
Danone described the move to increase its stake from 5% to 19% in Yakult Honsha as a "long-term investment reflecting Danone's confidence in the company and its management"
n vanilla rival
PepsiCo will launch vanilla-flavoured cola Pepsi Vanilla in the US this summer, a year after arch rival Coca-Cola went to market with Vanilla Coke.
A raft of product promotions to drive its soft drinks sales include TV game show Pepsi Play For A Billion'.
A new orange-flavoured Mountain Dew variant LiveWire will also be launched, boosted by a tie-in with Universal Pictures film The Hulk'.
{{NEWS }}
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