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
Date of Report (Date of Earliest Event Reported): January 18, 2000
NANTUCKET INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-08509 58-0962699
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
73 Fifth Avenue, Suite 6A
New York, NY 10003
(Address of principal executive offices) (Zip Code)
(917) 853-0475
(Registrant's telephone number, including area code)
(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 3. Bankruptcy or Receivership
On March 3, 2000, Nantucket Industries, Inc. (the "Company") filed a
Voluntary Petition under Chapter 11 of the United States Bankruptcy Code in the
U.S. Bankruptcy Court for the Southern District of New York. (Case Name:
Nantucket Industries, Inc., Case Number: 00-B 10867). The Company intends to
file a Chapter 11 Plan and a Disclosure Statement on or before July 3, 2000.
ITEM 5. Other Events
1. Appointment of John H. Treglia
At a special meeting of the board of directors, held on January 18, 2000,
John H. Treglia was appointed as a director of the Company to fill the vacancy
caused by the resignation of James H. Carey, which had occurred on October 8,
1999. Mr. Treglia was also appointed President and Secretary of the Company.
Upon the appointment of Mr. Treglia, the Company's board consisted of the
following five persons, John H. Treglia, Steven Schneider, Marc Feder, Kenneth
Klein, and George J. Gold. The appointment of Mr. Treglia as an officer and
director of the Company, was made in contemplation of the Company's being
reorganized through a Chapter 11 proceeding because, since the fall of 1999, the
Company has been insolvent and dormant without any assets or business
operations.
Mr. Treglia is 57 years old and a graduate of Iona College, from which he
received a BBA in Accounting in 1964. Mr. Treglia was employed as an accountant
by Ernst & Ernst for seven years and, thereafter, founded and operated several
businesses in various areas. From 1994 through 1998, Mr. Treglia served as a
consultant to several companies which were in Chapter 11. These included J.R.B.
Contracting, Inc., Laguandia Contracting, and Melli-Borrelli Associates. In
1996, Mr. Treglia founded Accutone Inc., a company engaged in the business of
manufacturing and distributing hearing aids.
2. Resignation of Three Directors
At a meeting of the board of directors held on February 17, 2000, March
Feder resigned his position as a director of the Company. The remaining
directors present at the meeting appointed Dr. Frank J. Castanaro to fill the
vacancy on the board caused by Mr. Feder's resignation. Subsequent to the said
meeting, two more directors, Steven Schneider and Kenneth Klein also resigned
from the board.
Dr. Castanaro, who is 49 years old, received a Bachelor of Science degree
from the University of Scranton in 1974. In 1978 he graduated from Georgetown
University School of Dentistry and has been in private practice as a dentist
since such time. Dr. Castanaro has also
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assisted two large ophthalmology practices to introduce and expand their
activities in Laser therapy, including, but not limited to. Lasik procedures.
Dr. Castanaro presently practices dentistry in partnership with Dr.'s Joseph C.
and John B. Fontana in Peekskill, New York, and has a solo practice in Yonkers,
New york. Dr. Castanaro is a member of the American Dental Association, the
Dental Society of the State of New York, the Ninth District Dental Society, and
the Peekskill-Yorktown Dental Society.
ITEM 7. EXHIBITS
No Exhibits are being filed with this Report.
SIGNATURE
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.
NANTUCKET INDUSTRIES INC.
Dated: March 7, 2000 By /s/ John H. Treglia
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John H. Treglia, President
and Secretary
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