It's challenging time for dairy company Synlait.
It's had a $96.2 million loss for the six months to January compared to a $4.8 million profit in the previous corresponding period.
It's won an extension on a $130-million debt repayment and is reviewing North Island assets including the extensive Pōkeno facilities.
Willy Leferink, Synlait Supplier and former Chair of Federated Farmers, told Mike Hosking that the current model is unsustainable.
He said this is a result of when Synlait's board decided that they bet on a horse that wasn't allowed to race.
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