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
DATE OF REPORT (Date of earliest event reported): APRIL 12, 2000
PARAGON TRADE BRANDS, INC.
(Exact name of registrant as specified in charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-11368
(Commission File Number)
91-1554663
(IRS Employer Identification No.)
180 TECHNOLOGY PARKWAY, NORCROSS, GA 30092
(Address of principal executive offices) (Zip Code)
(678) 969-5000
(Registrant's telephone number, including area code)
NONE
(Former name or former address, if changed since last report)
Page 1
Exhibit Index is at Page 4
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Effective April 12, 2000, the Audit Committee (the "Audit Committee") of the
Board of Directors of Paragon Trade Brands, Inc. (the "Company" or "Paragon")
approved the dismissal of Arthur Andersen LLP ("AA") as the independent
accountant engaged to audit the Company's financial statements. Also effective
April 12, 2000, the Audit Committee approved the engagement of Ernst & Young LLP
("E&Y") as the new independent accountant to replace AA and assigned to it the
responsibility of auditing the Company's 2000 financial statements.
AA's audit opinion for fiscal year 1998 contained an explanatory fourth
paragraph with respect to the Company's ability to continue as a going concern,
but contained no other qualifications, modifications or disclaimers. AA's audit
opinion for fiscal year 1999 was unqualified.
There were no disagreements with AA during the Company's last two fiscal years
and subsequent interim period through the date of dismissal with respect to any
matter of accounting principles or practice, financial statement disclosure or
auditing scope or procedure, which if not resolved to the satisfaction of AA,
would have caused AA to describe the subject matter of the disagreement in its
report. Likewise, there were no reportable events, as specified under Item
304(a)(1)(v) of Regulation S-K, during the Company's last two fiscal years.
During the last two fiscal years, Paragon has not consulted with E&Y on any
matter related to the application of accounting principles to a specified
transaction or the type of audit opinion that E&Y might render on the Company's
financial statements and no advice, either oral or written, was received by the
Company from E&Y on any such matter.
Please see the letter of AA dated April 25, 2000 concurring with the disclosures
made herein. A copy of this letter has been attached as Exhibit 99 hereto.
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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.
PARAGON TRADE BRANDS, INC.
By: /S/ ALAN J. CYRON
--------------------------
Name: Alan J. Cyron
Title: Chief Financial Officer
Dated: April 25, 2000
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EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION
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99 Letter dated April 25, 2000 from Arthur Andersen LLP to
Paragon Trade Brands, Inc.
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Office of the Chief Accountant
Securities and Exchange
Commission
450 Fifth Street, N.W.
Washington, DC 20549
April 25, 2000
Dear Sir/Madam,
We have read the first three paragraphs of Item 4 included in the Form 8-K/A of
Paragon Trade Brands, Inc. regarding the dismissal of Arthur Andersen LLP as its
certifying accountant to be filed with the Securities and Exchange Commission
and are in agreement with the statements contained therein.
Very truly yours,
/s/ ARTHUR ANDERSEN LLP
Arthur Andersen LLP
cc: Mr. Alan J. Cyron, Vice President and Chief Financial Officer, Paragon
Trade Brands, Inc.
