Inter Link Foods has dismissed press reports that it is to sell its malt loaf business Soreen.
Reports last week had suggested that Soreen was being marketed for sale by the cake company, in a move to to reduce its debt. But chairman Jeremy Hamer told British Baker that they were "total speculation and rumour".
Meanwhile, Brendan Hynes, who is to join Inter Link as finance director, has delayed his departure from Vimto-maker Nichols. Hamer said he was "very hopeful" that the situation would be cleared up soon.
An interim financial management team would remain in place at Inter Link until after Hynes had joined.
Hamer commented: "We are making lots of progress at Inter Link after a very difficult year."