SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
July 2, 1998 (June 25, 1998)
CABLE & CO. WORLDWIDE, INC.
(Exact name of Registrant as specified in its charter)
Delaware 0-20769 22-3341195
(State or other jurisdiction of (Commission File (IRS Employer
incorporation or organization) Number) Identification No.)
724 Fifth Avenue, New York, New York 10019
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 489-9686
n/a
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On June 25, 1998, Cable & Co. Worldwide, Inc. (the "Company") received
a notice of acceleration from Heller Financial, Inc. ("Heller"), the Company's
factor and a secured lender. Pursuant to the notice of acceleration, unless all
of the Company's obligations to Heller are paid in full by July 2, 1998, which
has been extended orally to July 7, 1998 Heller shall have the right to, and
currently intends to declare all of the amounts due to Heller to be immediately
due and payable and terminate all of its commitments to make future advances or
other financial accommodations to the Company. As of March 31, 1998, the Company
owed to Heller approximately $9,312,000. The Company intends to pursue further
discussions with Heller.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 2, 1998
CABLE & CO. WORLDWIDE, INC.
(Registrant)
By: /s/ Alan Kandall
ALAN KANDALL
President
