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Foodarama to Restructure Debtit is not in compliance with several bank covenants, Foodarama Supermarkets here is preparing a business plan for a restructuring of its $35.2-million debt that could enable it to amend its credit agreements.Officials of the 19-unit chain -- the second largest ShopRite operator -- said there are no assurances that a forbearance agreement or amended credit agreements can

Foodarama to Restructure Debt

it is not in compliance with several bank covenants, Foodarama Supermarkets here is preparing a business plan for a restructuring of its $35.2-million debt that could enable it to amend its credit agreements.

Officials of the 19-unit chain -- the second largest ShopRite operator -- said there are no assurances that a forbearance agreement or amended credit agreements can be negotiated.

However, the company said it is discussing the terms and conditions of a forbearance agreement with its senior lenders and is preparing a business plan, in conjunction with independent financial advisers, that will serve as the basis for negotiating amended credit agreements.

As a result of falling out of compliance on its covenants, the company's debt has been reclassified as a current liability.

FMI Conference Slate Updated

The following is an update of the Food Marketing Institute's conference schedule for 1994:

MARCH: The advertising/ marketing executives conference scheduled March 13 to 16 will be held in Orlando, Fla.

MAY: The financial executives conference set for May 22 to 25 will be held in San Francisco.

OCTOBER: The retail store development conference set for Oct. 2 to 5 will be held in Atlanta.