Jamaica Broilers Group has had a torrid time of it lately due in the main to accounting irregularities uncovered in its U.S. operations.

The Group has had to account for a J$46 billion hole in its balance sheet and has had to answer a lot of uncomfortable questions.

It was recently reported that its external auditors, PriceWaterhouseCoopers (PwC)  would be replaced by Ernst& Young. An Extraordinary General Meeting (EGM) will be held next week, April 7, 2026, to vote on a resolution for the appointment of Ernst & Young to replace PwC as the Group’s external auditors.

This is not a reflection on PwC’s auditing abilities, and it remains both locally and internationally one of the best operators in its field. The renowned auditing firm did issue a qualified audit opinion on Jamaica Broilers’ audited financial statements in light of the number of accounting irregularities revealed in its U.S. operations. 

Jamaica Broilers is making it clear that it was not PwC that discovered red flags and irregularities in its U.S. operations, but rather it was its own corporate management team that discovered mismanagement and highly questionable activities which cost the Group dearly.

This led to an expeditious effort by Jamaica Broilers to investigate the matter and cauterise the damage. This meant having to restate its 2024 financial statements and restructure its U.S. operations, bringing it under Jamaican management. Group CEO Christopher Levy has had to roll up his sleeves and go in and sort out this awful mess. 

Some are calling on Jamaica Broilers to take out a loan to pay dividends but that would be folly at this time. 

What has to happen here is that time and money must be spent to repair a ship that has taken heavy cannon fire under its ballast line and was close to sinking altogether.

NCB has reposed faith in Jamaica Broilers, making available a J$15 billion facility to help manage its debt, which totals around J$43 billion. 

Jamaica Broilers has begun the repairs in the dry dock yard, thus making the good ship seaworthy again and ready to take on new travels. The aim is to see both Chris Levy and Ian Persaud stand tall on the quarterdeck once again. 

For the third quarter ended January 31, 2026, Jamaica Broilers Group reported revenues of J$23. 3 billion with a net loss of $2.2 billion. The loss compares to a restated $4.6 billion loss in the same period last year due to perturbing events that transpired in its U.S. operations. 

Jamaica Broilers’ local operations continue to perform very well despite the impact of Hurricane Melissa at the end of last year. It has shouldered the burden of the still-struggling U.S. operations.