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UNITED STATES
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): May 28, 1999
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BRAKE HEADQUARTERS U.S.A., INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-28640 22-3048534
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(State or Other Jurisdiction (Commission File Number) (IRS Employer)
of Incorporation) Ident. No.
925 Amboy Avenue, Perth Amboy, New Jersey 08861
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(Address of Principal Executive Offices) (Zip Code)
(773) 697-0100
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Registrant's telephone number, including area code
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Item 5. Other Events
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On May 28, 1999, a voluntary petition was filed in the United States
Bankruptcy Court for the Eastern District of New York by Sanyo Automotive
Parts, Ltd. (Case No. 1 99-17339-260) ("Sanyo") and ABS Brakes, Inc. (Case No. 1
99-17340-260) ("ABS"), each a wholly-owned subsidiary of Brake Headquarters
U.S.A., Inc. (the "Registrant").
The two petitions are being jointly administered pursuant to an order
of the Bankruptcy Court dated June 3, 1999.
An emergency motion to use the cash collateral of the National Bank of
Canada, New York Branch, was made returnable on June 3, 1999 and after a
hearing, the use of such cash collateral in accordance with a budget submitted
by Sanyo and ABS was so ordered.
A permanent hearing on the use of cash collateral is scheduled.
The two subsidiaries will have the opportunity, under the guidance of
the courts, to settle outstanding claims and reorganize their business. This
decision was due, in part, to continued losses incurred, especially by Sanyo,
and to protect the integrity of the Registrant's operations and those of its
subsidiary WAWD, which are not expected to be negatively affected as a result
of these filings.
(c) Exhibits.
None.
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SIGNATURE
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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 thereunto duly authorized.
BRAKE HEADQUARTERS U.S.A., INC.
(Registrant)
Date: July 16, 1999 By: /s/ Joseph Ende
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Joseph Ende
Chief Executive Officer
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