UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D)
OF THE SECURITIES EXCHANGE ACT OF 1934
DANSKIN, INC.
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(Exact name of registrant as specified in its charter)
NOVEMBER 10, 1997
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Date of Report (Date of earliest even reported)
DELAWARE 0-20382 62-1284179
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(State or other jurisdiction Commission File Number (I.R.S. Employer
of incorporation or organization) Identification No.)
111 West 40th Street, New York, New York 10018
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(Address of principal executive offices)
212-764-4630
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(Registrant's telephone number)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
(a) Former Auditors.
(i) On November 3, 1997, the Registrant, Danskin, Inc. dismissed the
firm of Deloitte & Touche LLP ("Deloitte") as its independent auditors.
(ii) No report of the former principal accountant on the financial
statements of the Registrant for either of the past two years contained an
adverse opinion or a disclaimer of opinion, or was qualified or modified as
to uncertainty, audit scope or accounting principals.
(iii) The decision to change accountants was modified as to
uncertainty, audit recommended by management and was approved by the board
of directors of the Registrant.
(iv) During the Registrant's two most recent fiscal years, and all
subsequent interim periods preceding the dismissal, there was no
disagreement with the former principal accountant on any matter of
accounting principals or practices, financial statement disclosure, or
auditing scope or procedure, which disagreement, is not resolved to the
satisfaction of the former principal accountant, would have caused it to
make reference to the subject matter of the disagreement in connection with
its report.
(v) Deloitte did not advise the Registrant during the Registrant's two
most recent fiscal years or during any subsequent period preceding the
dismissal:
(a) that the internal controls necessary for the Registrant to
develop reliable financial statements did not exist;
(b) that information had come to its attention that had let it
to no longer be able to rely on management's representations, or that had
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made it unwilling to be associated with the financial statements prepared
by management;
(c) of the need to expand significantly the scope of its audit,
or that information had come it its attention during the two most recent
fiscal years or any subsequent interim period that if further investigated
might (i) materially have impacted the fairness or reliability of either:
previously issued audit report or the under lying financial statements, or
the financial statements issued or to be issued covering the fiscal periods
subsequent to the date of the most recent financial statements covered by
an audit report or (ii) have caused it to be unwilling to rely on
management's representations or be associated with the Registrant's
financial statements; or
(d) that information had come to its attention that it had
concluded materially impacts the fairness or reliability of either: (i)
previously issued audit report or the under lying financial statements, or
(ii) the financial statements issued or to be issued covering the fiscal
period)s) subsequent to the date of the most recent financial statements
covered by an audit report.
(B) New Auditors.
(i) On November 3, 1997, Arthur Andersen was engaged as the
Registrant's new principal accountant to audit the Registrant's financial
statements.
(ii) During the two most recent fiscal years or during the
interim period prior to engaging Arthur Andersen, neither the Registrant
nor anyone on its behalf consulted Arthur Andersen regarding either: (x)
the application of accounting principals to a specified transaction, either
completed or proposed; or (y) the type of audit opinion that might be
rendered on the Registrant's financial statements.
(iii) neither a written report was provided to the Registrant or
oral advice was provided that Arthur Andersen concluded was an important
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considered by the Registrant in reaching a decision as to the Danskin,
accounting, auditing or financial reporting issue; or any matter that was
the subject of either a disagreement or an event described in section A
above.
ITEM 7. Exhibits.
99.1 Letter from Deloitte & Touche LLP regarding change in
certifying accountants.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date: November 10, 1997 Danskin, Inc.
By: /s/ Beverly Eichel
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Beverly Eichel
Executive Vice President
Chief Financial Officer
Deloitte &
Touche LLP
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Two World Financial Center Telephone: (212) 436-2000
New York, New York 10281-1414 Facsimile: (212) 436-5000
November 13, 1997
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read and agree with the comments in Item 4 of Form 8-K of Danskin, Inc.
November 10, 1997.
Yours truly,
/s/ Deloitte & Touche LLP
DELOITTE & TOUCHE LLP
