Lakeland’s €13m loss typifies volatile sector

THE combined losses of close to €13 million racked up by Lakeland Dairies over the past two years is a sharp reminder of the enormous change hitting the industry.

It is a long way from the heady days when Larry Goodman’s Food Industries was trying to buy Lough Egish and Killashandra before the two combined to offer, as they saw it a better alternative to the Goodman group.

Shortly after when Goodman hit a financial wall and had to be rescued by emergency legislation through hastily convened Dáil, the decision to reject the advances of Mr Goodman look to have been well founded.