BANKRUPTCY COURT FORCES WHITE'S INTO CASH TERMS

JOHNSON CITY, Tenn. -- White's Fresh Foods here said last week the U.S. Bankruptcy Court turned down its request to pay certain "critical vendors" for merchandise delivered in the weeks before the company filed for Chapter 11 protection.As a result, White's will not get payment terms from suppliers and other unsecured creditors and will have to pre-pay for all shipments or make cash deposits -- a

JOHNSON CITY, Tenn. -- White's Fresh Foods here said last week the U.S. Bankruptcy Court turned down its request to pay certain "critical vendors" for merchandise delivered in the weeks before the company filed for Chapter 11 protection.

As a result, White's will not get payment terms from suppliers and other unsecured creditors and will have to pre-pay for all shipments or make cash deposits -- a procedure the company is prepared to follow, Eddie Neely, chief financial officer for th

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