Synergy Brands files Chapter 7
Synergy Brands logo
Syosset-based Synergy Brands Inc. and two of its subsidiaries have filed for bankruptcy protection, the company has announced.
Synergy, a holding company, is a distributor of private-label groceries and health and beauty aids. Its wholly owned subsidiary PHS Group Inc., also in Syosset, and SYBR.com, based in New Jersey, have filed under Chapter 7 in U.S. Bankruptcy Court in Central Islip.
Another subsidiary, Quality Food Brands, based in Monroe, Mich., is not part of the bankruptcy procedure.
For the quarter ending Sept. 30, Synergy reported revenue of $21.6 million, down 17 percent from $26 million for the same quarter a year ago. But, citing strong growth in the Quality Food Brands line, earnings jumped to $713,580, up 79 percent from $397,914 a year ago.
-------------------
Read more of Inside Long Island Business
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
