// Iceland to convert open chillers to doored fridges in 150 Food Warehouse stores
// The initiative is expected to reduce energy costs
Iceland will convert open chillers to doored fridges in 150 Food Warehouse stores in an effort to tackle rising energy bills.
The frozen food retailer is converting its estate of chiller cabinets to more energy efficient fridges by working with refrigeration manufacturer The Bond Group.
The works are set to be completed by November.
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In September, executive chairman Richard Walker said the company’s energy costs had grown by more than £20m, leaving the business “fighting to keep the lights on” due to its reliance on chillers and freezers.
This prompted concerns about the supermarket group’s ability to refinance its £550m bond debt, following the decision by French insurer Coface to withdraw cover to Iceland suppliers in February.
It was the third to do so in the space of a few months, after Atradius and Allianz also limited exposure.
Iceland insisted that it remained incredibly well positioned, and has been working to reduce its energy costs.
