Insolvent Italian food group Parmalat has announced that checks by auditing firm PriceWaterhouseCoopers (PWC) showed that net debt at the end of September last year stood at €14.3 billion.
The figure compares with only €1.8 billion of net debts that the company said it had at the time.
Parmalat has since revealed a multi billion-euro hole in its accounts, leading to the arrest of its former chairman and 10 other people.
In today's statement, Parmalat 's new administration management also said the PWC report showed earnings before interest, taxation, depreciation and amortisation (EBITDA) in the first nine months of last year were €121 million - lower than the €651 million stated previously.
