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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
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) August 15, 1997
ANDOVER TOGS, INC.
(Exact Name of Registrant as Specified in Charter)
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<S> <C> <C>
DELAWARE 0-14674 13-5677957
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer Identification Number)
Incorporation)
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1333 BROADWAY
NEW YORK, NEW YORK 10018
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code 212-244-0700
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
As previously reported in a Current Report on Form 8-K dated March 7,
1997 of Andover Togs, Inc. (the "Company"), the Company changed its independent
accountants to Mahoney Cohen & Company, CPA, P.C. (the "New Accountants") and
engaged the New Accountants to audit its financial statements for the fiscal
years ending November 30, 1996 and 1997. The New Accountants replace the firm of
Deloitte & Touche LLP (the "Former Accountants"), who had audited the Company's
financial statements for the fiscal years ending November 30, 1985 through 1995.
The decision to change independent accountants was unanimously approved by the
Company's Board of Directors, including all members of the Audit Committee of
the Board of Directors, on March 7, 1997, but the former accountants were
retained until August 15, 1997, the date of delivery to the Company of their
audit report on the consolidated financial statements of the Company as of and
for the fiscal year ended November 30, 1995.
The audit report of the Former Accountants on the consolidated financial
statements of the Company as of and for the fiscal year ended November 30, 1994
did not contain any adverse opinion or disclaimer of opinion, nor was it
qualified or modified as to uncertainty, audit scope, or accounting principles.
The audit report of the Former Accountants on the consolidated financial
statements of the Company as of and for the fiscal year ended November 30, 1995
was delayed and finally issued on August 15, 1997, after the Company emerged
from bankruptcy. Such report does not contain any adverse opinion or disclaimer
of opinion, nor is it qualified or modified as to uncertainty, audit scope or
accounting principles. A letter from the Former Accountants is attached hereto
as Exhibit 16.1 to this Current Report on Form 8-K. The Former Accountants were
dismissed as of August 15, 1997, the date that they issued their audit report.
During the Company's two most recently completed fiscal years and the
subsequent interim period up to the date hereof, there were no disagreements
between the Company and the Former Accountants on any matter of accounting
principles or practices, financial statement disclosure or auditing scope or
procedures, which such disagreements, if not resolved to the satisfaction of the
Former Accountants, would have caused it to make reference to the matter of
disagreement in its report. During the two most recently completed fiscal years
and the subsequent interim period up to the date hereof, the Company has not
been advised by the Former Accountants of any of the reportable events listed in
Item 304(a)(1)(v)(A) through (D) of Regulation S-K (the "Regulation").
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(C) EXHIBITS
Exhibit No. Description
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16.1 Letter from Deloitte & Touche LLP dated August 15, 1997.
2
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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.
ANDOVER TOGS, INC.
August 15, 1997
By: /s/ William L. Cohen
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William L. Cohen,
Chairman, President and
Chief Executive Officer
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INDEX TO EXHIBITS
Exhibit Description
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16.1 Letter from Deloitte & Touche LLP dated August 15, 1997
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EXHIBIT 16.1
DELOITTE & TOUCHE LLP
TWO WORLD FINANCIAL CENTER
NEW YORK, NEW YORK 10281
(212) 436-2000
August 15, 1997
Securities and Exchange Commission
Washington, D.C. 20549
We have read the statements made by Andover Togs, Inc. in its Current Report on
Form 8-K, dated August 15, 1997, which we understand will be filed with the
Securities and Exchange Commission. We agree with the statements concerning our
firm in such Form 8-K.
Very truly yours,
/s/Deloitte & Touche, LLP
