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 January 5, 2001
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 January 5, 2001, Glenoit Corporation announced that it has concluded
negotiations on a six-month extension of Glenoit's current Debtor-in-Possession
financing facility, through June 29, 2001.
On December 21, 2000, the United States Bankruptcy Court for the
District of Delaware granted an interim approval of the financing extension and
a final hearing is scheduled for January 17, 2001.
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 January 5, 2001.
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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.
Dated: January 5, 2001
GLENOIT CORPORATION
By /S/ WILLIAM S. RYMER
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William S. Rymer
Senior Vice President - Finance
(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: January 5, 2001
GLENOIT ASSET CORPORATION
By /S/ WILLIAM S. RYMER
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William S. Rymer
Senior Vice President - Finance
(On behalf of the Registrant and as
Principal Financial and Accounting Officer)
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