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.