A gourmet pet food maker needs to record an additional $70 million in expenses for 2021 after an accounting problem left it with a “severe mismatch” between its costs and what it was charging customers.
The company, which operates as Alphia, is working with external consultants and accountants to correct and reissue its financial statements, which are expected to show an adjusted loss for 2021, S&P Global Ratings analysts Bea Chiem and Luis Medal wrote in a
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