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FARM FRESH, Norfolk, Va., said it has elected not to pay the interest on its 12.25% senior notes due 2000, which was due last Wednesday. The company said it will skip the payment in order to preserve working capital. Securities analysts told SN the decision not to make the payment had been anticipated as a preliminary step to filing a prepackaged financial reorganization that will precede the chain's

FARM FRESH, Norfolk, Va., said it has elected not to pay the interest on its 12.25% senior notes due 2000, which was due last Wednesday. The company said it will skip the payment in order to preserve working capital. Securities analysts told SN the decision not to make the payment had been anticipated as a preliminary step to filing a prepackaged financial reorganization that will precede the chain's sale to Richfood Holdings, Richmond, Va. -- a process approved by an informal committee repre

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