BusinessCompany NewsAhold gets US accounts in on time

Ahold gets US accounts in on time

Troubled Dutch supermarket chain Ahold narrowly avoided the collapse of a rescue package by submitting the 2002 accounts for US subsidiary Stop & Shop to creditors just before an imposed deadline.

Link: Ahold appoints former IKEA finance boss

The company has been plagued by a series of accounting black holes, including an $880m deficit in the accounts of subsidiary US Foodservice.

Ahold reached an agreement with five banks in March that a $3.03bn credit facility would be provided. However one of the conditions was that the 2002 financial records for Stop & Shop must be submitted by June 30. The requested accounts were delivered on that day.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor