88 Days And Counting: Menu Foods Is Sick
Posted by Slobokan @ 11:55 · 171 words · print
Yikes! It seems the Menu Foods Income Fund is having some serious health issues.
Troubled pet food maker Menu Foods Income Fund (TSX:MEW.UN) lost as much as one-fifth of its already ravaged stock-market value Tuesday after disclosing the loss of a "significant customer" that represented 11 per cent of last year's sales.
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The unnamed customer had previously put its orders for cuts-and-gravy products on hold, Menu Foods said. However, the same customer will continue to purchase "loaf" products – solid canned food.
Less than two weeks ago Menu Foods lost two other contracts worth about 4.5 per cent of its sales.
Oh, boo hoo. So they're hemorrhaging cash. Big frickin deal. It's only been 88 days since they were afflicted with PIS (product importation syndrome). It never would have happened if they would have just used ingredients available here in the United States or Canada.
Sorry, but I just can't find any energy to feel sorry for them.
Posted In: FYI, My Opinions, Recalls
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