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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
COMMISSION FILE NUMBER: 33-27038
NOTIFICATION OF LATE FILING
(Check One) [X]Form 10-K [ ]Form 11-K [ ]Form 20-F [ ]Form 10-Q [ ]Form N-SAR
For Period Ended: October 31, 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 attached instruction sheet before preparing form. Please print or
type.
Nothing in the 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:
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PART I. REGISTRANT INFORMATION
Full Name of registrant: JPS Textile Group, Inc.
Former name if applicable: NA
Address of principal
executive office: 555 North Pleasantburg Drive, Suite 202
Greenville, South Carolina 29607
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 appropriate box)
[X] (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
thereof, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly
report or 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, 20-F,
10-Q, N-SAR, or the transition report or portion thereof could not be filed
within the prescribed time period.
The Registrant has been unable to complete its Annual Report on Form 10-K
as the Registrant has been engaged in negotiations to complete the sale of a
facility which produces and markets home fashion textiles. Due to the contingent
nature of this proposed transaction and the fact that such transaction will have
significant accounting and financial reporting implications, the Company will be
unable to complete the Annual Report on Form 10-K for the fiscal period ended
October 31, 1998, without unreasonable effort and expense by January 29, 1999.
The Annual Report on Form 10-K will be filed on or before February 16, 1999.
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PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
John W. Sanders, Jr. (864) 239-3900
(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 the 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:
See Annex A attached hereto.
JPS Textile Group, Inc. has caused this notification to be signed on
its behalf by the undersigned thereunto duly authorized.
Date: January 29, 1999 By /s/ John W. Sanders, Jr.
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John W. Sanders, Jr.
Executive Vice President of
Finance and Chief Financial Officer
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ANNEX A
PART IV - OTHER INFORMATION
(3) A reasonable estimate of the results of operations from the
corresponding period for the last fiscal year cannot be made for the
reasons set forth above in the response to Part III - Narrative.
