Gate Gourmet International -

Gate Gourmet International -: "Gate Gourmet is the UK�s largest supplier of in-flight catering and the second largest provider in the world after LSG SkyChefs.
Gate Gourmet UK has been struggling since 2002; it lost �22m (CHF38.3m, US$31.9m) in the UK in 2004 and is expected to lose �25m (CHF49.6m, US$41.2m) this year, in the absence of business restructuring.
As mentioned above, the situation worsened recently with the loss in March of a key UK customer, Virgin Atlantic.
Globally, the company has seen declining profits for the past 5 years; at the end of 2004, we chose not to make certain debt payments in order to preserve our cash reserves while we commenced negotiations with our lenders. "