UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): X Form 10-K __Form 20-F __Form 11-K __Form 10-Q __Form N-SAR
SEC FILE NUMBER - 0-18925
CUSIP NUMBER - 457954-50-1
For Period Ended: November 30, 1998
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:_________________________________________
Read Instruction (on back page) Before Preparing Form. Please Print or
Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
_______________________________________________________________________
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates: N/A
PART 1 - REGISTRANT INFORMATION
Full Name or Registrant - Innovo Group Inc.
Former Name if Applicable -
Address of Principal Executive Office (Street and Number) -
1808 North Cherry Street
City, State and Zip Code - Knoxville, Tennessee 37917
PART II - RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate)
(a) The reasons described in reasonable detail in Part III of this
Form could not be eliminated without unreasonable effort or
expense;
_X_ (b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion
therefore, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly
report of transition report on Form 10-Q, or portion thereof
will be filed on or before the fifth calendar day following the
prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-
Q, N-SAR, or the transition report or portion thereof, could not be filed
within the prescribed time period. (Attach Extra Sheets if Needed).
The Company's independent external accountants have requested that
the Company file an extension to file the annual report for the fiscal year 1998
on Form 10-K while they finalize the audit of the Company's financial
statements.
PART IV - OTHER INFORMATION
(1) Name and telephone Number of person to contact in regard to this
notification - Jay Furrow, 423-546-1110
(2) Have all other periodic reports required under Section 13 or 15(d)
of the Securities Exchange Act of 1934 or Section 30 of the
Investment Company Act of 1940 during the preceding 12 months (or
for such shorter) period that the registrant was required to file
such report(s) been filed? If answer is no, identify report(s).
_X_Yes ___No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year
will be reflected by the earnings statements to be included in the
subject report or portion thereof?
_X_Yes ___No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.
For the year ended November 30, 1998, the Company incurred a net loss of
$4,014,000 compared to $1,315,000 for the year ended November 30, 1997.
The increase in the loss is the primarily the result of losses generated
from the discontinuation of a business segment during 1998. Please see
the table below for a full disclosure of the loss from continuing and
discontinued operations.
November 30
1998 1997
------ ------
(in thousands)
Net Sales $6,790 $7,901
Cost of Goods Sold 4,493 5,303
------ ------
Gross Profit 2,297 2,598
Operating Costs 4,203 4,007
------ ------
Loss from Operations (1,906) (1,409)
Interest and Other Costs 361 320
------ ------
Loss from Continuing Operations (2,267) (1,729)
Losss from Discontinued Operations (1,747) (110)
------ ------
Loss Before Extraordinary Items (4,014) (1,839)
Extraordinary Items -- 524
------ ------
Net Loss (4,014) (1,315)
________________________________________________________________________
<PAGE>
Name of Registrant as Specified in Charter - Innovo Group Inc.
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
Date - March 1, 1999 By /s/Jay Furrow
Jay Furrow
Vice President of Corporate Development
INSTRUCTION: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and
title of the person signing the form shall be typed or printed beneath
the signature. If the statement is signed on behalf of the registrant by
an authorized representative (other than an executive officer), evidence
of the representative's authority to sign on behalf of the registrant
shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).
General Instructions
1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the
General Rules and regulations under the Securities Exchange Act of
1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities
and Exchange Commission, Washington, D.C. 20549, in accordance with
Rule 0-3 of the General Rules and Regulations under the Act. The
information contained in or filed with the form will be made a
matter of public record in the Commissions files.
3. A manually signed copy of the form and amendments thereto shall be
filed with each national securities exchange on which any class of
securities of the registration is registered.
4. Amendments to the notifications must also be filed on Form 12b-25
but need not restate information that has been correctly furnished.
The form shall be clearly identified as an amended notification.
