<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No. 2
JPS TEXTILE GROUP, INC.
-----------------------
(Name of Issuer)
Common Stock, par value $0.01
-----------------------------
(Title of Class of Securities)
46624B30
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(CUSIP Number)
Michael C. Murr, Managing Director
DAYSTAR L.L.C.
411 Theodore Fremd Avenue
Rye, New York 10580
(914) 967-1155
---------------------------
(Name, Address and Telephone Number
of Person Authorized to Receive
Notices and Communications)
September 16, 1999
------------------------------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Page 1 of 3
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CUSIP NO. 46624B30
<TABLE>
<S> <C>
- ----------------------------------------------------------------------------------------------------------
1) Names of Reporting Persons DAYSTAR L.L.C.
I.R.S. Identification Nos. of 13-3859222
Above Persons (Entities Only)
- ----------------------------------------------------------------------------------------------------------
2) Check the Appropriate Box (a) / /
if a Member of a Group (b) /X/
(See Instructions)
- ----------------------------------------------------------------------------------------------------------
3) SEC Use Only
- ----------------------------------------------------------------------------------------------------------
4) Source of Funds WC, PF
- ----------------------------------------------------------------------------------------------------------
5) Check Box if Disclosure of Legal
Proceedings is Required Pur-
suant to Item 2(d) or 2(e) / /
- ----------------------------------------------------------------------------------------------------------
6) Citizenship or Place of New York
Organization
- ----------------------------------------------------------------------------------------------------------
Number of (7) Sole Voting Power 0 shares
Shares Bene- -------------------------------------------------------------------------------
ficially (8) Shared Voting
Owned by Power 0 shares
Each Report- -------------------------------------------------------------------------------
ing Person (9) Sole Dispositive
With Power 0 shares
-------------------------------------------------------------------------------
(10) Shared Dispositive
Power 0 shares
- ----------------------------------------------------------------------------------------------------------
11) Aggregate Amount Beneficially
Owned by Each Reporting Person 0 shares
- ----------------------------------------------------------------------------------------------------------
12) Check Box if the Aggregate
Amount in Row (11) Excludes
Certain Shares / /
- ----------------------------------------------------------------------------------------------------------
13) Percent of Class Represented
by Amount in Row (11) 0%
- ----------------------------------------------------------------------------------------------------------
14) Type of Reporting Person IA
- ----------------------------------------------------------------------------------------------------------
</TABLE>
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On February 12, 1998, Daystar L.L.C., a New York limited
liability company ("Daystar"), filed with the Securities and Exchange Commission
a Statement on Schedule 13D (the "Original Statement") relating to shares of
Common Stock, par value $0.01 per share ("Common Stock"), of JPS Textile Group,
Inc., a Delaware corporation (the "Company"), beneficially owned by it. All
capitalized terms used herein and not otherwise defined herein shall have the
same respective meanings as used in the Original Statement.
Item 5(c) of the Original Statement is amended to read as
follows:
(c) On September 16, 1999, Daystar, acting on behalf of the
Fund, of which it acts as General Partner, sold 755,517 shares of the Company's
Common Stock and, acting as investment advisor to certain of its clients, sold
an aggregate of 948,843 shares, in brokerage transactions for a net sales price
of $3.00 per share.
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: October 5, 1999
DAYSTAR L.L.C.
By /s/ Michael C. Murr
----------------------------
Michael C. Murr
Managing Director
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