USA: Imperial Sugar may seek protection under US Bankruptcy Code
The largest sugar company in the US has admitted that financial worries may lead it to seek protection under the US Bankruptcy Code, in a bid to buy time to sort itself out. Imperial Sugar has seen its profits slashed after a global sugar glut led to falling prices, and the situation came to head when it became apparent that there was no way it could afford an interest payment of US$12.2m due on 15 December, on US$250m in senior subordinated notes.
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