In a new Plimsoll report, 173 of the top 1,000 UK fresh produce companies have been identified as having 'reckless management'.

Plimsoll released its latest findings this week and they make for gruesome reading for investors and managers alike.

'Recent corporate collapses like Enron and Worldcom were blatant examples of reckless management driven by over ambitious managers opting to take on great risk from high debts,' said David Pattison, senior analyst at Plimsoll.

Of the 173 companies, 66 were loss making over the three-year study period. Whilst the average growth delivered was a staggering 14.6 per cent, returns bottomed out at a woeful 0.9 per cent.

The report also highlights 96 of the most profitable companies in the sector that seem guilty of 'cautious management'.

Fifty-six companies profiled showed sales figures that had dropped by over 10 per cent in the last two years. These companies aren't so much at risk from collapse, as they are of 'simply fading away', said Plimsoll.