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Dairy Crest warns of £4m hit as customer calls in administrators
Dairy Crest said it had made a £4m provision for bad debt after one of its customers, Quadra Foods called in administrators.
In a statement the foods group said: “This is the total debt owed to us by Quadra, although we are looking at several options to reduce the amount involved.”
“Dairy Crest has annual sales of £1.6bn and this is an isolated incident. It will have no material effect on our year end borrowings.”