Synergy Brands Provides Corporate Update
SYOSSET, N.Y., Jan. 30, 2011 (GLOBE NEWSWIRE) -- Synergy Brands Inc. (Pink Sheets:SYBR), (a Delaware corporation) (the "Company"), and two of its subsidiaries, PHS Group Inc. (a Pennsylvania corporation) and SYBR.com Inc. (a New Jersey corporation), filed on January 28, 2011 voluntary petitions for bankruptcy under Chapter 7 of Title 11 of the United States Bankruptcy Code ("Bankruptcy Code") in the United States Bankruptcy Court, Eastern District of New York, Central Islip.
Under Chapter 7 of the Bankruptcy Code, the Court is expected to appoint one or more Trustees to liquidate the aforementioned entities. It is expected that the Company or its Trustee will issue another press release identifying the Trustee and the related contact information. All matters concerning the Company and each of the two subsidiaries named above should be directed to the appropriate appointed Trustee.
The Company also operates Quality Food Brands, Inc. (a Nevada corporation), in Monroe Michigan, which is currently operating as a going concern. The filings do not involve Quality Food Brands, Inc.
Forward Looking Statement/Legal Clause:
This release contains forward-looking statements with respect to the business operations and strategy of the Company and its subsidiaries, including the expected appointments and future public information concerning the Company and its subsidiaries. Such forward-looking statements are subject to inherent risks and uncertainties that may cause actual results or events to differ materially from those contemplated by such forward-looking statements.
CONTACT: Mitchell Gerstein 516-714-8200 firstname.lastname@example.org