Leading fresh and frozen produce supplier Albert Fisher has called in the receivers after talks with bankers to renegotiate its finances fell through. The company said it had been "unable to reach agreement with its lenders­ and has no option but to invite its lenders to appoint administrative receivers over the business and assets of the company and Fisher Foods Limited [its UK subsidiary]". A leading supplier of own label fresh and frozen vegetables, seafood, chilled salad and fruit to the UK multiples, Albert Fisher also has operations in the US, Spain, Belgium and the Netherlands. Joint administrative receiver Mick Mcloughlin of KPMG Corporate Recovery said: "We are continuing to trade the business as normal. Given the strong market position of the company, we hope to conclude a sale of each of the businesses quickly to secure as many jobs as possible." Last month Albert Fisher warned full year profit would be "materially lower than current market expectations," despite new business wins in chilled food and improved operational efficiency. Full year turnover to September 2001 was £458.8m. UK Association of Frozen Food Producers chairman Geoffrey Molloy said the news was sad, though not unexpected. "We hoped they would pull through, having sold off bits of the business." {{NEWS }}