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F&C INTERNATIONAL, INC. ANNOUNCES FILING OF CHAPTER 11 PETITION

 CINCINNATI, April 19 /PRNewswire/ -- Fletcher Anderson, president and chief executive officer of F&C International, Inc. (NASDAQ: FCIN), announced today that the company has sought protection from its creditors by filing a Chapter 11 petition with the U.S. Bankruptcy Court in Cincinnati. Anderson added that F&C had sought such protection "to allow the company time to effect an orderly sale of some of its non-core operating divisions, to effect certain changes in management and control, to obtain adequate financing for the company's working capital needs and, ultimately, to successfully reorganize."
 In furtherance of the Chapter 11 goals announced by the company, F&C has requested authority from the Bankruptcy Court to enter into an additional $4 million working capital facility with Star Bank, N.A., its existing lender. Richard M. Pachulski, an attorney representing F&C, said that he is optimistic that the Bankruptcy Court will approve emergency borrowings from Star Bank of up to $2,500,000 at a hearing to be held today, which will enable the company to resume uninterupted service and products to the company's customers.
 Additionally, the company will seek approval today to retain Pacholder Associates, Inc. to manage the day-to-day operations of F&C and to carry out various contemplated asset sales. Anderson commented that Pacholder's services are retained "to provide the company with crisis management and investment banking expertise at this difficult time."
 F&C recently announced the termination of Jon Fries, the company's former chief executive officer, after discovery of substantial inaccuracies in the reporting of the company's inventory levels.
 F&C International is traded on the NASDAQ National Market System under the symbol "FCIN." F&C International is a creator and manufacturer of flavors and fragrances used by producers in the food, beverage, tobacco, personal care, household, insitituional and pharmaceutical industries to impart or improve flavor or fragrance in a wide variety of consumer products.
 -0- 4/19/93
 /CONTACT: Richard J. Vossler, Jr., Pacholder Associates, Inc., 513-772-8160/
 (FCIN)


CO: F&C International, Inc. ST: Ohio IN: CHM SU: BCY

DA -- CL028 -- 7660 04/19/93 18:09 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
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