SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. _____)
WORLDTEX, INC.
(Name of Issuer)
Common Stock 981907108
(Title of class of securities) (CUSIP number)
COMMITTEE OF CONCERNED WORLDTEX SHAREHOLDERS
c/o Harvest Investments LLC
530 Silas Deane Highway
Suite 130
Wethersfield, CT 06109
With a copy to:
Richard T. Keppelman, Esq.
Levy & Droney, P.C.
74 Batterson Park Road
Farmington, CT 06032
(860) 676-3132
(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)
October 6, 2000
(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 10 Page
1. NAME OF REPORTING PERSON: SONDRA BEIT
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS: PF
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
6. CITIZENSHIP OR PLACE OF US
ORGANIZATION:
NUMBER OF SHARES
BENEFICIALLY OWNED BY
EACH REPORTING PERSON
WITH
: 1. SOLE VOTING POWER
: 560,000
:
: 2. SHARED VOTING POWER
: -0-
:
: 3. SOLE DISPOSITIVE
POWER
: 560,000
:
: 4. SHARED DISPOSITIVE
POWER
: -0-
7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY 560,000
REPORTING PERSON:
8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES [ ]
CERTAIN SHARES:
9. PERCENT OF CLASS PRESENTED BY AMOUNT IN ROW (11): 3.9%
10. TYPE OF REPORTING PERSON: IN
Page 2 of 10 Page
1. NAME OF REPORTING PERSON: MARK PALEY
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS: PF
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
6. CITIZENSHIP OR PLACE OF US
ORGANIZATION:
NUMBER OF SHARES
BENEFICIALLY OWNED BY
EACH REPORTING PERSON
WITH
: 1. SOLE VOTING POWER
: 769,100
:
: 2. SHARED VOTING POWER
: -0-
:
: 3. SOLE DISPOSITIVE
POWER
: 769,100
:
: 4. SHARED DISPOSITIVE
POWER
: -0-
7. AGGREGATE AMOUNT BENEFICIALLY OWNED BY 769,100
REPORTING PERSON:
8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES [ ]
CERTAIN SHARES:
9. PERCENT OF CLASS PRESENTED BY AMOUNT IN ROW (11): 5.4%
10. TYPE OF REPORTING PERSON: IN
Page 3 of 10 Page
Item 1. Security and Issuer.
The class of equity securities to which this statement is the
Common Stock (the "Common Stock") of Worldtex, Inc., a Delaware
Corporation (the "Issuer"). The principal executive offices of
the Issuer are located at 915 Tate Boulevard, S.E., Suite 106,
Hickory, North Carolina 28802.
Item 2. Identity and Background.
This statement is filed on behalf of the Committee of
Concerned Worldtex Shareholders (the "Committee"). The Committee
consists of persons who are shareholders of the issuer and was
formed for the limited purpose of monitoring the affairs of the
Issuer with a view to influencing the election of directors and
possible other matters at the next annual meeting of
shareholders. The address of the Committee is c/o Harvest
Investments LLC, 530 Silas Deane Highway, Suite 130,
Wethersfield, CT 06109.
The Members of the Committee are Sondra Beit and Mark Paley. All
Members of the Committee beneficially own, in the aggregate, more
than 5% of the Common Stock. The business addresses and
principal occupations or employments of each Committee Member are
as set forth below. None of the Committee Members has, during
the last five years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or has
Page 4 of 10 Pages
been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final
order enjoining further violations of, or mandating activities
subject to, Federal or state securities laws or finding any
violation with respect to such laws.
Name and Business Address
Principal Occupation
Sondra Beit
Paralegal and Real Estate
Investor
Harvest Investments LLC
530 Silas Deane Highway
Wethersfield, CT 06109
Mark Paley
Real Estate Investor
Harvest Investments LLC
530 Silas Deane Highway
Wethersfield, CT 06109
Item 3. Source and Amount of Funds or Other Consideration.
The shares owned by the Members of the Committee were
purchased with their personal funds.
Page 5 of 10 Pages
Item 4. Purpose of Transaction.
The shares of Common Stock owned by Members of the Committee
were purchased primarily for investment. The Committee was
formed for the purpose of monitoring the affairs of the Issuer
with a view to influencing the election of directors and possible
other matters at the next annual meeting of shareholders of the
Issuer.
Item 5. Interest in Securities of the Issuer.
(a) & (b) The following table sets forth the aggregate
number and percentage of the class of securities of the Issuer
identified pursuant to Item 1 above held by each Member of the
Committee. Each of such person has sole voting and sole
dispositive power over such shares.
Name of Committee
Member
Sondra Beit
Mark Paley
Number of
Shares 560,000
769,100
Percent of
Class
3.9%
5.4%
(c) During the 60 days prior to this filing, Members of the
Committee effected transactions in the Common Stock as set
forth below. All of such transactions were ordinary brokers'
transactions at market prices in effect at the time of such
transactions
Name
Sondra Beit
Date
08/21/00
08/22/00
08/22/00
08/24/00
08/25/00
08/28/00
08/28/00
08/29/00
08/30/00
08/30/00
08/31/00
09/08/00
09/14/00
09/14/00
Page 6 of 10 Pages
Number of Shares
200
6,000
200
2,000
1,000
5,000
200
3,300
1,100
100
5,900
10,000
15,400
5,000
09/14/00
09/28/00
09/29/00
10/04/00
10/04/00
10/05/00
3,100
500
1,000
99,800
200
400,000
Mark Paley
08/31/00
08/31/00
08/31/00
08/31/00
09/29/00
09/29/00
10/04/00
10/04/00
10/04/00
10/05/00
10/05/00
10/05/00
18,100
5,800
600
500
9,000
8,000
8,000
100,000
100,000
113,100
86,900
319,100
(4) No other person is known to have the right to receive
or the power to direct the receipt of dividends from, or the
proceeds from the sale of, such securities.
Item 6. Contracts, Arrangements, Understandings or
Relationships With Respect to the Issuer.
Except as noted below, there are no contracts,
arrangements, understandings or relationships(legal or
otherwise) among the Members of the Committee and between such
persons and any person with respect to any securities of the
Issuer, including but no limited to transfer or voting of any
of the securities, finder's fees, joint ventures, loan or
option arrangements, puts or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of
proxies.
Roger Beit, the husband of Sondra Beit, is a business
partner with Mark Paley. Roger Beit may from time to time
initiate transactions for the account of Mark Paley with
respect to securities of the Issuer. In addition, there is a
written understanding among the Members of the Committee
Page 7 of 10 Pages
that they will vote in concert with respect to their holdings
of securities of the Issuer. No Member of the Committee has any
pecuniary interest in any securities of the Issuer held by
any other Member of the Committee.
Item 7. Material filed on Exhibits.
There is herewith filed as Exhibit A a copy of the
Joint Filing Agreement among the Members of the Committee, as
required by Rule 13d-1 (k).
Page 8 of 10 Page
SIGNATURE
After reasonable inquiry and the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
S/SONDRA BEIT
for herself and as representative of
the group
Page 9 of 10 Pages
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1 (f) under the Securities
Exchange Act of 1934, as amended, each of the undersigned
hereby agrees to the joint filing with all other signatories
listed below, on behalf of each of them, of a statement on
Schedule 13D (including amendments thereto) with respect to
the Common Stock of Worldtex, Inc. and that this Agreement be
included as an exhibit to such joint filing. Sondra Beit is
hereby designated as the person authorized to receive notices
and communications with respect to such joint filing and is
authorized to execute such joint filing on behalf of the
undersigned. This Agreement may be executed in any number of
counterparts all of which taken together shall constitute one
and the same instrument.
IN WITNESS WHEREOF, the undersigned hereby execute this
Agreement as of the 16th day of October, 2000.
S/SONDRA BEIT
Sondra Beit
S/MARK PALEY
Mark Paley
Page 10 of 10 Pages
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