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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: January 3, 1996
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(Date of earliest event reported)
FAIRWOOD CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
Delaware 018446 13-3472113
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(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
ONE COMMERCE CENTER
1201 N. ORANGE STREET, SUITE 790
WILMINGTON, DELAWARE
(302) 884-6749
(Address of Registrant's Principal Executive
Offices and telephone number, including area code)
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Item 3. Bankruptcy or Receivership
On January 3, 1996, an involuntary bankruptcy petition was filed
against the Registrant in the United States Bankruptcy Court for the Southern
District of New York by certain holders of the Registrants' Subordinated
16-7/8% Pay-in-Kind Debentures due 2004. The Registrant and the petitioning
creditors have agreed to extend until mid-February the Registrant's time to
answer or otherwise move with respect to the bankruptcy petition.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
99a. Press Release, issued January 18, 1996.
SIGNATURE
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.
FAIRWOOD CORPORATION
Date: January 18, 1996 By: /s/ John B. Sganga
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John B. Sganga
Chief Financial Officer,
Executive Vice President,
Secretary and Treasurer
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Exhibit Index
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Exhibit No. Description of Exhibit
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99a. Press Release, issued January 18, 1996.
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Exhibit 99a
FAIRWOOD CORPORATION
One Commerce Center
1201 North Orange Street, Suite 790
Wilmington, Delaware 19801
FOR IMMEDIATE RELEASE PRESS RELEASE
January 18, 1996
Stratford and Barcalounger are not impacted by an involuntary bankruptcy
Petition filed vs Fairwood Corporation who has until mid-February to resolve or
respond to Petition issues.
Wilmington, DE - An involuntary bankruptcy petition was filed against Fairwood
Corporation on January 3, 1996 by holders of Fairwood's Subordinated 16 7/8%
Pay-in-Kind Debentures due 2004. The parties have agreed to extend until
mid-February Fairwood's time to answer or otherwise move with respect to the
bankruptcy petition. In the meantime, representatives of Fairwood and of the
petitioning creditors are expected to meet in an attempt to resolve the issues
which prompted the filing.
Stratford and Barcalounger Companies, operating divisions of
Furniture Comfort Corporation, and its parent, Consolidated Furniture
Corporation, are direct and indirect subsidiaries of Fairwood, but are not
under the supervision of the Bankruptcy Court. Moreover, their operations are
not impacted in any way by the Fairwood filing. These operating companies
continue to enjoy the full support of their lender who just extended their loan
agreement to January 2, 1997. The operating companies and the lender are in
the process of amending this agreement to accommodate 1996 strategic plans and
operational requirements.
Fairwood is a holding company located in Wilmington, Delaware, and
is the sole obligor to the holders of the debentures.
