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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
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Date of Report (Date of earliest event reported): September 1, 2000
PLAINWELL INC.
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(Exact name of registrant as specified in its charter)
Delaware 38-3391489
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(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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PLAINWELL INC.
1270 Northland Drive, Suite 300
Minneapolis, MN 55120
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (651) 365-3100
Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
PLAINWELL INC. has elected not to pay the September 1, 2000 interest
payment due on its Series B Senior Subordinated Notes due 2008. Instead, it will
take advantage of the 30-day grace period permitted under the indenture
governing the Series B Senior Subordinated Notes to continue discussions with
certain holders of such Notes regarding a potential restructuring of Plainwell's
capital structure. Plainwell hopes that through such a restructuring the
aggregate principal amount outstanding under the Notes can be reduced to a
serviceable level. There can be no assurances, however, that such discussions
will result in a successful restructuring or that the Company will have
sufficient liquidity to make the September 1, 2000 interest payment due upon the
expiration of the 30-day grace period. At this time, the Company does not
believe that it will be able to make such interest payment upon the expiration
of the 30 day grace period.
This filing contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Securities Litigation Reform Act of 1995,
each of which involves risks and uncertainties that may affect our business and
prospects. Such forward-looking statements include, without limitation, our
ability to restructure our capital structure and our beliefs as to our
liquidity. Investors should consult our ongoing interim and quarterly filings
and annual reports for additional information on risks and uncertainties
relating to forward-looking statements. Investors are cautioned not to rely on
these forward-looking statements. We do not undertake to update these
forward-looking statements.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
None.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
PLAINWELL INC.
By: /S/ Jeffrey A. Arnesen
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Name: Jeffrey A. Arnesen
Title: Chief Financial Officer & SVP
Dated: September 6, 2000
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