Cuisine de France owner Aryzta has said that it is now clear that since the COVID-19 outbreak, market conditions and prospects have deteriorated and it will have a 'material impact' on its full year 2020 group performance.
The Irish Swiss baked goods group noted that its third quarter had been in line with guidance up until the 15 March.
The company said that the key priority of the Aryzta board and executive management is to ensure the health and wellbeing of its colleagues, customers and suppliers during this challenging period and that it is continuously monitoring the situation with its key stakeholders.
"Aryzta has full business continuity plans in place and active where necessary to maintain service levels and to meet our customers’ expectations," the company said.
"Actions are progressing to implement flexible working policies and, where necessary, to adjust available capacity to the rapidly changing demand of the different channels," it added.
The company said that it is taking decisive action to maximise cash, reduce costs and maintain a strong liquidity position.
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