Imperial Sugar Company (AMEX:IHK) yesterday reported results for the fourth quarter and full year of the fiscal year ended September 30, 2000, and announced the status of negotiations for financial restructuring. The Company indicated that it was not in compliance with certain financial covenants under its Senior Credit Agreement at September 30, 2000, and that it will not pay $12.2 million in interest on its $250 million 9 3/4% Senior Subordinated Notes (``Notes'') due December 15, 2000. The indenture for the Notes provides a thirty-day grace period. The Company and its senior lenders have entered into an interim waiver agreement waiving effective through January 8, 2001, this non-compliance and the effect of not paying the scheduled December 15th interest payment on the Notes. Under this agreement, the Senior Credit Agreement lenders will continue to provide working capital financing for the Company's operations. The Company also announced that the liquidity line of credit issued in favor of the purchaser of its accounts receivable purchase facility has been extended to January 8, 2001.