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Article: We'll get cash back, claims Bakkavor.(news)(Bakkavor Group HF)(Brief article)

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Grocer
Article date:
December 13, 2008
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Bakkavor has admitted it is uncertain how quickly it can recover its 140m [pounds sterling] deposit in Icelandic bank Kaupthing.

In a statement, the ready-meal maker said recent withdrawals had been honoured and it was confident of recovering the full sum, guaranteed under the Depositors and Investors Guarantee Fund in Iceland.

It also disclosed it had appointed NM Rothschild as advisors in discussions with lenders on renewing its main credit facilities.

"Given the strong support Bakkavor ...

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