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): November 2, 2000
SIGNAL APPAREL COMPANY, INC.
(Exact name of Registrant as specified in its charter)
Indiana 1-2782 62-0641635
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
34 Englehard Avenue, Avenel, New Jersey 07001
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code (732) 382-2882
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Item 3. Bankruptcy or Receivership
On November 2, 2000, Signal Apparel Company, Inc. (the "Company") issued a
press release, a copy of which is attached hereto as Exhibit 99.1, updating the
status of its bankruptcy proceedings. In this press release, the Company
announced that it has been unable to secure a buyer for substantially all of its
business on a going concern basis and is taking steps to liquidate its assets in
an effort to maximize value, and has secured limited debtor-in-possession
financing (approved by the Bankruptcy Court) for salaries and other expenses
incurred during the liquidation process. Additionally, the Company advised
shareholders that it expects to lose the services of its transfer agent for its
common shares in the very near future due to the Company's lack of funds to pay
the transfer agents fees.
The Company previously has announced that on September 22, 2000 it filed a
voluntary petition for relief under Chapter 11 of the United States Bankruptcy
Code in the Bankruptcy Court for the Southern District of New York. The
Company's Chapter 11 bankruptcy is proceeding as Case No. 00 B 14462 in the U.S.
Bankruptcy Court for the Southern District of New York.
Item 7. Exhibits
Exhibit 99.1 Press Release dated November 2, 2000.
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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.
Date: November 7, 2000 SIGNAL APPAREL COMPANY, INC.
By: /s/ Robert J. Powell
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Robert J. Powell
Vice President,
General Counsel & Secretary
