Ann: Market update deleveraging plan, bank covenants, guidance, page-38

Oh, I don't blame ESG as the sole cause of Synlaits downfall. It is multi faceted. For example throw in the disastrous appointment of Leon. Throw in overzealous appetite for debt, Throw in a Mom and Pop business mentality, unrealistic view of value (eg dairyworks) quality, margins etc etc. Its quite the long list. All I might add enabled by banks who just keep that needle in their arm.

So long I can't see how they dig themselves out of it now.

I reckon its time for a new broom starting in the basement. Calve off the different business entities. Sell them to the best bidder. And let what ever rises from the ashes set a new path for the future.