UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No. )*
The Bibb Company
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
088667100
--------------------------------------------
(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. 088667100 13G Page 2 of 5 Pages
- ------------------------------ ------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
PENN CAPITAL MANAGEMENT COMPANY, INC.
22-2796848
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW JERSEY
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
1,102,729
---------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY ---------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,102,729
WITH ---------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,102,729
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IA
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SCHEDULE 13G
------------
ITEM 1(a) NAME OF ISSUER: THE BIBB COMPANY
- ---------
ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
- ---------
100 GALLERIA PARKWAY
17TH FLOOR
ATLANTA, GA 30339
ITEM 2(a) NAME OF PERSON FILING:
- ---------
PENN CAPITAL MANAGEMENT COMPANY, INC.
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
- --------- RESIDENCE:
52 HADDONFIELD-BERLIN ROAD
SUITE 1000
CHERRY HILL, NJ 08034
ITEM 2(c) CITIZENSHIP:
- ---------
NEW JERSEY
ITEM 2(d) TITLE OF CLASS OF SECURITIES:
- ---------
COMMON STOCK, $.01 PAR VALUE
ITEM 2(e) CUSIP NUMBER:
- ---------
088667100
ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULES
- ------ 13d-1(b), OR 13d-2(b), CHECK WHETHER THE PERSON
FILING IS A:
[ ](a) BROKER OR DEALER REGISTERED UNDER SECTION 15 OF THE
ACT,
[ ](b) BANK AS DEFINED IN SECTION 3(a)(6) OF THE ACT,
[ ](c) INSURANCE COMPANY AS DEFINED IN SECTION 3(a)(19) OF
THE ACT,
[ ](d) INVESTMENT COMPANY REGISTERED UNDER SECTION 8 OF
THE INVESTMENT COMPANY ACT
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[X](e) INVESTMENT ADVISOR REGISTERED UNDER SECTION 203 OF
THE INVESTMENT ADVISERS ACT OF 1940,
[ ](f) EMPLOYEE BENEFIT PLAN, PENSION FUND WHICH IS SUBJECT
TO THE PROVISIONS OF THE EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974 OR ENDOWMENT FUND; SEE
RULE 13d-1(b)(1)(ii)(F),
[ ](g) PARENT HOLDING COMPANY, IN ACCORDANCE WITH RULE
13d-1(b)(ii)(G); SEE ITEM 7,
[ ](h) GROUP, IN ACCORDANCE WITH RULE 13d-1(b)(1)(ii)(H).
ITEM 4 OWNERSHIP.
- ------
(a) AMOUNT BENEFICIALLY OWNED:
1,102,729 SHARES
(b) PERCENT OF CLASS:
11.0%
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE
1,102,729
(ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE
-0-
(iii) SOLE POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF
1,102,729
(iv) SHARED POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF
-0-
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
- ------
IF THIS STATEMENT IS BEING FILED TO REPORT THE FACT
THAT AS OF THE DATE HEREOF THE REPORTING PERSON HAS
CEASED TO BE THE BENEFICIAL OWNER OF MORE THAN FIVE
PERCENT OF THE CLASS OF SECURITIES, CHECK THE
FOLLOWING [ ].
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
- ------ ANOTHER PERSON.
ALL SECURITIES REPORTED UPON IN THIS SCHEDULE ARE OWNED
BY ADVISORY CLIENTS OF PENN CAPITAL MANAGEMENT
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COMPANY, INC., EACH OF WHOM HAS THE RIGHT TO RECEIVE
OR THE POWER TO DIRECT THE RECEIPT OF DIVIDENDS FORM,
OR THE PROCEEDS OF THE SALE OF, SUCH SECURITIES. NO
ONE OF SUCH ADVISORY CLIENTS OWNS MORE THAN 5% OF THE
CLASS.
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
- ------ WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY.
N/A
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
- ------ GROUP.
N/A
ITEM 9 NOTICE OF DISSOLUTION OF GROUP.
- ------
N/A
ITEM 10 CERTIFICATION.
- -------
BY SIGNING BELOW I CERTIFY THAT, TO THE BEST
OF MY KNOWLEDGE AND BELIEF, THE SECURITIES REFERRED
TO ABOVE WERE ACQUIRED IN THE ORDINARY COURSE OF
BUSINESS AND WERE NOT ACQUIRED FOR THE PURPOSE OF AND
DO NOT HAVE THE EFFECT OF CHANGING OR INFLUENCING THE
CONTROL OF THE ISSUER OF SUCH SECURITIES AND WERE NOT
ACQUIRED IN CONNECTION WITH OR AS A PARTICIPANT IN
ANY TRANSACTION HAVING SUCH PURPOSE OR EFFECT.
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SIGNATURE
AFTER REASONABLE INQUIRY AND TO THE BEST OF MY KNOWLEDGE AND
BELIEF, I CERTIFY THAT THE INFORMATION SET FORTH IN THIS STATEMENT IS TRUE,
COMPLETE AND CORRECT.
FEBRUARY 3, 1998
PENN CAPITAL MANAGEMENT COMPANY, INC.
/s/ Michael F. Swallow
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SIGNATURE
Michael F. Swallow, Secretary/Treasurer
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NAME/TITLE
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