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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): October 13, 1998
INNOVO GROUP INC.
(Exact name of registrant as specified in charter)
Delaware 0-18926 11-2928178
(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
27 North Main Street, Springfield, Tennessee 37172
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (615) 384-0100
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Item 7. Financial Statements and Exhibits.
(c) The following Exhibits are filed with or incorporated by reference in
this Report as indicated below:
99.1 Press Release dated October 13, 1998.
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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.
INNOVO GROUP INC.
(Registrant)
By: /s/ L.E. Smith
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L.E. Smith, Chairman and
Chief Executive Officer
Date: October 14, 1998
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Exhibit 99.1
Press Release dated: October 13, 1998
NEWS RELEASE
FOR IMMEDIATE DISTRIBUTION
INNOVO GROUP INC. RELOCATING TO
KNOXVILLE, TN
SPRINGFIELD, TENNESSEE, October 13,1998 -- INNOVO GROUP INC. (NASDAQ
Symbol: INNO), a manufacturer and supplier to national and international
retailers, including Wal-Mart, K-Mart, Michael's, Hobby Lobby, Dollar General,
Goody's and Fabri-Center, announced today that Innovo Group Inc. will relocate
its operations to Knoxville, TN.
L.E. Smith, Innovo CEO, stated that "relocating to Knoxville is a
necessary and positive step in obtaining Innovo's long-term objectives. Moving
to Knoxville will further our goals for multiple reasons. First, the building
that we will be moving into is a more modern production facility that we believe
will increase the efficiencies of our manufacturing process. Secondly, the labor
force in Knoxville has proven to be very experienced and productive in our
particular industry and Innovo should be able to take advantage of this talent.
Furthermore, Knoxville is growing financial arena that will provide Innovo with
economic resources to which Innovo has not previously had access. The Knoxville
area is also the buying headquarters for numerous successful retailers and
distributors."
Innovo Group Inc. designs markets, manufacturers and distributes
fashion and sports licensed nylon and canvas products for the multi-billion
dollar crafts industry and retail sector in the United States and Europe. Under
licensing agreements, the Company's sports lines feature the designs of the NBA,
NFL, Major League Baseball, NHL, numerous collegiate teams, Walt Disney and
Warner Brothers. Innovo also has certain exclusive and non-exclusive
manufacturing and distribution rights for NASCAR licensed products.
This press release may contain forward-looking statements made pursuant
to the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that such forward-looking statements involve
risks and uncertainties, including, without limitation, continued acceptance of
the Company's product, product demand, competition, capital adequacies, access
to additional capital if required and other risks and uncertainties detailed
from time to time in the Company's periodic reports including Quarterly Reports
on form 10-Q and Annual Reports on form 10-K.
Listed: NASDAQ SmallCap Exchange
Trading Symbol: INNO
Contact: Jay Furrow, V.P. of Corporate Development, (615) 384-0100
