Oven Pride maker McBride gets debt waivers as supply chain woes bite

(Reuters) – British cleaning products maker McBride said on Wednesday its bank had waived debt covenant tests until September, as the loss-making group grapples with rising costs and supply chain challenges.

The maker of Oven Pride, which has an available liquidity of about 75 million pounds ($91.38 million) as of June 28, said it had agreed with its banking group to maintain liquidity of at least 40 million pounds and to refrain from paying dividends in order to get the waiver.

($1 = 0.8207 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Amy Caren Daniel)