Diamond Foods Retains Adviser

Company seeks to strengthen balance sheet as planned restatement could violate debt covenants.

Diamond Foods Inc. retained Dean Bradley Osborne Partners LLC as financial adviser to strengthen its balance sheet as a planned earnings restatement threatens to violate some of its debt agreements.

The company said it is making “substantial progress” in strengthening its financial reporting and restating earnings for its past two fiscal years. The restatement’s timing hasn’t been set, the San Francisco-based company said Tuesday in a statement.

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