The familiar facade of Jamaica Broilers Group belies the internal crisis and high-stakes negotiations now determining the company’s future.
JAMAICA Broilers Group (JBG) reported a $7.2-billion net loss for the year ended May 3, 2025 after accounting irregularities at its US operations forced a restatement of prior results. The restatement, which involved a massive write-down of intangible assets, goodwill, and biological assets, wiped billions from the company’s stated equity.
The financial results reveal a sharp division in performance across the group. The company’s core Jamaican operations, which house the Best Dressed Chicken and Hi-Pro Ace brands, reported a net profit of $2.5 billion. However, this was entirely offset by $9.1 billion in net losses attributable to its US subsidiaries, leading to the consolidated group loss.
The loss, combined with the significant downward revision of asset values in the restatement, triggered a breach of the company’s debt covenants. This technical default can allow lenders to demand immediate repayment. This led its auditor, PricewaterhouseCoopers (PwC), to highlight a “material uncertainty” about its ability to survive.
The group’s con
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