British dairy coop in deep trouble

First Milk, the only large cooperative of dairy farmers in the United Kingdom, seems to be at the brink of collapse. Despite heavy restructuring and despite significant lower payments for its farmers and members, First Milk is still loss-making, leading to doubts as to whether the company can survive as a going concern. First Milk recently announced pre-tax losses of £24.9 million (€35.53 mln) for the financial year till March 31, 2015, far worse than the loss of £4.3 million (€6.14 mln)