Foodarama Signs Standstill Pacts
Supermarkets here has signed standstill agreements with its three bank creditors and with certain senior noteholders.
Under the agreements, the banks and noteholders will delay until Sept. 30 exercising their rights following certain specified defaults.
Foodarama operates 19 stores and is the second-largest operator of ShopRite supermarkets.
The standstill agreements require Foodarama and its financial consultants to deli