SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20579
-----------------------
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) - December 15, 1994
UNITED MERCHANTS AND MANUFACTURERS, INC.
(Exact name of registrant as specified in this charter)
Delaware 1-3185 13-1426280
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation or
organization)
1650 Palisade Avenue, Teaneck, N.J. 07666
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (201) 837-1700
Page 1 of 5 Pages
Exhibit Index is on Page 4
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Item 5. Other Events
On December 15, 1994, the Registrant issued a press release, a copy of
which is attached as an exhibit hereto and which is hereby incorporated by
reference herein.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(2) Press Release dated December 15, 1994
Page 2 of 5 Pages
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on behalf by
the undersigned thereunto duly authorized.
UNITED MERCHANTS AND MANUFACTURERS, INC.
Date:December 27, 1994 By:/s/ Norman R. Forson
Name: Norman R. Forson
Title: Senior Vice President and
Controller
Page 3 of 5 Pages
EXHIBIT INDEX
Sequentially
Exhibit Description Numbered Page
(20)(a) Press Release
Page 4 of 5 Pages
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UNITED MERCHANTS AND MANUFACTURERS, INC.
1650 Palisade Avenue Teaneck NJ 07666 201-837-1700
For Immediate Release December 16, 1994
United Merchants and Manufacturers, Inc. ("UM&M" or the "Company")
announced that it will close its Buffalo Mill Division on or about
February 17, 1995. Buffalo Mill is a vertical manufacturer of
textile goods, located at 110 Mill Street, Buffalo, South Carolina.
The industry has experienced difficult times over the last couple
of years and Buffalo Mill has had net operating losses for the last
two fiscal years ended June 30, 1992 and 1993. In addition,
projections indicate that for the six (6) months ended December 31,
1994, the Mill will also post a net operating loss.
As reported earlier this year, UM&M had entered into a new borrowing
arrangement with Foothill Capital Corporation ("Foothill").
Recently, Foothill has required UM&M to reduce the amount of its borrowing
and accordingly, UM&M is no longer able to fund the daily cash requirements
of the Mill. UM&M plans to continue its other operations depending on
continued availability of financing.
UM&M is a diversified company engaged principally in the manufacture and
distribution of textiles and related products and the design,
manufacture and distribution of accessories. The Company also
operates discount outlet stores that sell the Company's and other
manufacturers' products.
Page 5 of 5 Pages
