Icelandic Group’s UK arm, which consists of retail processors Seachill, Coldwater Seafood and trading division Icelandic UK, has negotiated increased flexibility on repayment of £32.09 million (€39 million/$50.8 million) debts to Landsbanki.
The measures will provide Icelandic Group UK with increased flexibility in its management of working capital, said its financial report for 2011, in which it reported a marginal sales increase and a decline in profitability.
Its £32.09 million (€39 million/$50.8 million) debts to the Icelandic bank, nationalized in 2008 in the country’s financial meltdown, were due to be paid back in escalating payments up to 2013.
According
