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) February 27, 1998
QUADRAX CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 0-16052 05-0420158
(State or Other Jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
618 Main Street P.O. Box 1001, West Warwick, RI 02893-0901
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (401) 683-6600
300 High Point Avenue, Portsmouth, RI 02871
(Former Name or Former Address, If Changed Since Last Report.)
ITEM 3. Bankruptcy or Receivership
On February 27, 1998, the registrant (the "Company) filed a Voluntary Petition
under Chapter 11 of the Bankruptcy Code recorded as Case No. 98-10799 in the
United States Bankruptcy Court, District of Rhode Island. The Company
concurrently suspended production at its Portsmouth, Rhode Island, and Vista,
California thermoplastic divisions. The Company's wholly owned West Warwick,
Rhode Island subsidiary, Victor Electric Wire and Cable Corporation ("Victor"),
continues its electrical cordset manufacturing operations in the ordinary
course of business.
The Company has Debtor in Possession status regarding its undertakings and
effective March 2, 1998, the Company relocated its essential personnel to
618 Main Street, P.O. Box 1001, West Warwick, Rhode Island U.S.A. 02893 where
surplus space at Victor's premises now accommodates the Company's executive,
financial and corporate records offices. The telephone and facsimile numbers
are (401) 683-6600 and (401) 683-5630, respectively.
Concurrently with its development of a Plan of Reorganization management
continues to entertain inquires regarding potential asset sales, business
combinations and interim and long range financing opportunities.
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.
Quadrax Corporation
March 16, 1998 /s/ James J. Palermo
(Date) James J. Palermo, Chairman and
Chief Executive Officer
March 16, 1998 /s/ Brooks R. Herrick
(Date) Brooks R. Herrick, Chief
Financial Officer and Principal
Accounting Officer
