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 October 26, 2000
Commission file numbers 333-42411 and 333-42411-01
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Glenoit Corporation
(Exact name of registrant as specified in its charter)
Delaware 13-3862561
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
Glenoit Asset Corporation
(Exact name of registrant as specified in its charter)
Delaware 51-0343206
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
111 West 40th Street
New York, New York 10018
Telephone: (212) 391-3915
(Address, including zip code, and telephone number, including area code, of
Registrant's principal executive offices)
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Item 5. Other Events
On August 8, 2000, the Company announced that it had terminated its
tender offer and related solicitation of consents to certain proposed amendments
for its 11% Senior Subordinated Notes. The Company also announced that it filed
for protection under Chapter 11 of the U. S. Bankruptcy Code in the United
States Bankruptcy Court for the District of Delaware. The Company simultaneously
filed a plan of reorganization that has been pre-approved by its banks and
bondholders in a format known as a "pre-packaged" bankruptcy.
On October 19, 2000, the Company deferred the consideration of their
joint prepackaged plan of reorganization and will have a status conference in
the United States Bankruptcy Court for the District of Delaware on November 2,
2000.
Item 7. Financial Statements and Exhibits
(a) and (b) Not applicable
(c) The exhibits furnished in connection with this Report are
as follows:
99.1 Company Press Release dated October 26, 2000.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
Date October 26, 2000
GLENOIT CORPORATION
By /S/ LESTER D. SEARS
-----------------------------
Lester D. Sears
Executive Vice President and
Chief Financial Officer
(On behalf of the Registrant and as Principal
Financial and Accounting Officer)
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
Dated: October 26, 2000
GLENOIT ASSET CORPORATION
By /S/ LESTER D. SEARS
-----------------------------
Lester D. Sears
Executive Vice President and
Chief Financial Officer
(On behalf of the Registrant and as Principal
Financial and Accounting Officer)
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