Food group Premier rises after bank support

Debt-laden Hovis bread maker Premier Foods secured vital breathing space today as it battles against soaring interest payments and wheat prices.

Britain’s biggest food maker, which has a debt mountain of £1.6bn (€2.08bn), rejigged its finances in a move that will also provide it with resources to take on rivals Warburton’s and Kingsmill with a new recipe for its Hovis white range.