[Editor’s Note: Follow the Khaleej Times live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.]
The move towards provisional liquidation of Dubai-based food conglomerate IFFCO Group marks one of the most significant corporate distress cases in the Gulf consumer sector in recent years, highlighting how mounting debt, shareholder complexities and geopolitical disruptions can rapidly destabilise even long-established regional business groups.
The 50-year-old food and agri-business giant, known for household brands such as London Dairy, Tiffany and Noor, is facing a deepening financial crisis after months of debt restructuring negotiations failed to produce a breakthrough with creditors.
According to…