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News Breaks | | | | December 15, 2011 | | 08:57 EDT |  | IPSU | Imperial Sugar says 10-K will include going concern doubt from auditor
Imperial Sugar disclosed that it anticipates its Form 10-K for the year ended September 30, 2011, will include an explanatory paragraph from the company’s independent registered public accounting firm expressing substantial doubt about its ability to continue as a going concern. The company said it is "currently in compliance with the covenants of its bank credit agreement; however future cash needs, including capital expenditures, pension contributions, and margin requirements of the commodity futures program, as well as the need to fund possible future operating losses in the event current margin pressures continue, could trigger the applicability of financial covenants and other restrictions contained in the bank credit agreement." | |
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