SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): November 20, 2000
KASPER A.S.L., LTD.
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE 0-24179 22-3497645
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(State of other Jurisdiction of (Commission (I.R.S. Employer
Incorporation) File Number) Identification Number)
77 METRO WAY
SECAUCUS, NEW JERSEY 07094
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(Address of Principal Executive Offices) (Zip Code)
(201) 864-0328
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(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
NY2:\985364\01\l4b801!.DOC\55745.0003
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ITEM 5. OTHER EVENTS
On November 20, 2000 Kasper A.S.L., Ltd. (the "Company") issued a
press release announcing that it had entered into an amended agreement with the
lenders of the Company's Revolving Credit Facility, (the "Chase Facility"), led
by the Chase Manhattan Bank, that amends and waives compliance with certain
financial covenants and all existing defaults, as well as enhances the Company's
liquidity and financial flexibility. The amendments waive defaults under the
Chase Facility as a result of the Company's failure to make its semi-annual
interest payment of approximately $7.2 million to holders of its 13% Senior
Notes, along with certain financial covenants including the failure to deliver
timely financial statements, failure to maintain minimum levels of net worth and
failure to meet the quarterly interest coverage ratio.
The press release, which is incorporated by reference herein and made
a part hereof, is filed with this Current Report on Form 8-K as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements of Businesses Acquired
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
Exhibit No. Description
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10.1 Amendment Agreement No. 3 and Waiver to
Revolving Credit Agreement, dated November 13, 2000
99 Press Release dated November 20, 2000
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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 its behalf of the
undersigned, thereunto duly authorized.
Dated: November 20, 2000
KASPER A.S.L., LTD.
By: /s/ Gwen Gepfert
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Name: Gwen Gepfert
Title: Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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10.1 Amendment Agreement No. 3 and Waiver to Revolving Credit
Agreement, dated November 13, 2000
99 Press release of Kasper A.S.L., Ltd., dated November
20, 2000
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