Brief: Goodfood Provides Strategic And Financial Update

Goodfood Market

14/10/2022 12:07

Oct 14 (Reuters) - Goodfood Market Corp  FOOD.TO :
    * GOODFOOD PROVIDES STRATEGIC AND FINANCIAL UPDATE
    * GOODFOOD MARKET CORP SAYS BLUE-OCEAN INITIATIVES EXPECTED
TO
RESULT IN A NON-CASH IMPAIRMENT CHARGE IN RANGE OF $45 TO $50
MILLION IN Q4
    * NET SALES IN Q4 ENDING SEPTEMBER 3RD ARE EXPECTED TO BE IN
RANGE
OF $50 TO $51 MILLION
    * ENTERED INTO A TOLERANCE LETTER WITH ITS LENDERS, LIMITING
AVAILABILITY OF A PORTION OF ITS CREDIT FACILITIES
    * PROJECT BLUE OCEAN EXECUTION EXPECTED TO RESULT IN AN
ADJUSTED
EBITDA LOSS, EXPECTED TO BE IN RANGE OF $2 TO $4 MILLION DOLLARS
FOR LATEST QUARTER

Source text for Eikon:  ID:nGNX3pyRNx 
Further company coverage:  FOOD.TO