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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 3, 2001
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GENESIS WORLDWIDE INC.
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(Exact name of Registrant as specified in its charter)
Ohio 1-1997 34-4307810
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
2600 Kettering Tower, Dayton, OH 45423
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(Address of principal executive offices) (Zip code)
937-910-9300
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(Registrant's telephone number including area code)
Not applicable
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(Former name and former address, if changed since last report)
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ITEM 5 OTHER EVENTS
On January 3, 2001 Genesis Worldwide Inc. made the following press release
regarding the extension of a lender forbearance agreement:
"Genesis Worldwide Inc. (GWOW.OB) announced that the lender under the Company's
bank credit agreement has amended an existing agreement to extend the
forbearance period through February 15, 2001. During this period, the lender has
agreed to refrain from taking certain actions as a result of the Company's
failure to comply with financial covenants contained in the credit agreement.
The lender also agreed through the end of the forbearance period to continue its
$32 million line of credit to the Company and to defer approximately $2 million
of principal and interest payments due from the Company at the end of 2000.
During the forbearance period, the Company anticipates having further
discussions with the lender on restructuring the terms of the borrowings under
the credit agreement. At December 31, 2000 the Company owed $72.6 million under
the credit agreement".
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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, thereunto duly authorized.
GENESIS WORLDWIDE INC.
Date: January 4, 2001 By: /s/ Karl A. Frydryk
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Karl A. Frydryk
Vice President and Chief Financial Officer
INDEX TO EXHIBITS
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(10) MATERIAL CONTRACT:
10.1 Amended and Restated Forbearance Agreement, dated December 22,
2000, among Genesis Worldwide Inc. and ING (U.S.) Capital LLC
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