Firms ‘have weeks to offset decline’

THE head of Britain’s largest food wholesaler has warned that businesses facing a financial crisis in the recession have only weeks to take action before the spiral of decline gets a grip.

Booker chief executive Charles Wilson said that in the early 1990s it could take two years for financial distress to take hold in a business, whereas today it can be just two months.

This was partly due to computers and better communications, he said.

Meanwhile, Ireland has been urged not to sacrifice its sustainable food production systems for the attainment of climate change targets.

Michael Barry, of the Food and Drink Industry Ireland — a business sector within IBEC — said: “The ambitious targets for the reduction of greenhouse gases must be aligned with existing and sustainable practices at farm and factory level.

“A balanced approach needs to be adopted, which takes account of the environmental benefits that arise from sustainable agricultural practices, as well as the emissions produced,” he said.