Metcash flags $237.4m impairment following loss of 7-Eleven contract

Metcash flags $237.4m impairment following loss of 7-Eleven contract

3 years ago
as per indideretail website, Metcash has announced a $237.4 million post tax impairment to its major food division, following the loss of a major supply contract with 7-Eleven. The contract fell through as Metcash was unable to reach an agreement with the convenience chain on its supply requirements for the east coast. The food and beverage wholesaler expects an annualised earnings loss of $15 million in its food pillar, after adjusting for mitigating costs savings. […]
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