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 6, 1995
Consumat Systems, Inc.
(Exact name of registrant as specified in its charter)
Virginia
(State or other jurisdiction of incorporation)
0-9253 54-0720128
(Commission file number) (IRS Employer Identification No.)
8407 Erle Road, Mechanicsville, Virginia 23111
and
Post Office Box 9379, Richmond, Virginia 23227
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (804) 746-4120
Not applicable
(Former name or former address, if changed since last report)
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Item 3. Bankruptcy or Receivership
On October 6, 1995, the Company filed for legal protection under chapter
11 of the United States Bankruptcy Code in the United States Bankruptcy Court
for the Eastern District of Virginia in Richmond. The filing is Case Number
95-34253-S.
Item 5. Other Events
On October 6, 1995, the Company issued a press release, a copy of which
is attached as Exhibit 99 to this Form 8-K.
Item 7. Financial Statements and Exhibits
(c.) Exhibits
Exhibit Number Description
99 Press Release dated October 6, 1995
<PAGE>
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 thereunto duly authorized.
CONSUMAT SYSTEMS, INC.
Date: October 6, 1995 /s/Robert L. Massey
Robert L. Massey
Chief Executive Officer
Date: October 6, 1995 /s/Mark E. Hills
Mark E. Hills
Chief Accounting Officer
FOR IMMEDIATE RELEASE. . . . . . . . . . . . . . . . . . . . . October 6, 1995
Richmond, Virginia. . . . . . . . . . . . . . . . . . Contacts:Robert L.Massey
Mark E. Hills
804/746-4120
Consumat Systems, Inc. (NASDAQ Bulletin Board:CSMT), the Richmond, Virginia
based incineration and pollution control equipment manufacturer, announced today
that it has filed for protection under Chapter 11 of the United States
Bankruptcy Code, in the United States Bankruptcy Court for the Eastern District
of Virginia in Richmond.
While the Company has operated profitably for the last five quarters, the
bankruptcy filing was precipitated by a continued working capital deficiency and
litigation involving New England Waste Services, Inc.(NEWS). The NEWS litigation
relates to the 1994 sale of the stock in the Company's landfill subsidiary in
New Hampshire. Subject to Bankruptcy Court approval, Sirrom Capital
Corporation, a Small Business Investment Company based in Nashville, Tennessee,
will provide up to $500,000 of Debtor in Possession financing during the
bankruptcy. This financing will alleviate the working capital deficiency and
allow the Company to complete all contracts in a timely manner. Subject to
successful negotiation of creditor claims, Sirrom will also provide
post-bankruptcy financing to the Company.
The Company intends to file a plan of reorganization later this month and
will seek confirmation of the plan as soon as is possible thereafter. Pending
confirmation, the Company will conduct business as usual.
