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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 (Date of earliest event reported): AUGUST 31, 1998
BROTHERS GOURMET COFFEES, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-23024 52-1681708
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(State or Other Juris- (Commission File (IRS Employer
diction of Incorporation) Number) Identification No.)
2255 Glades Road
Suite 100E
Boca Raton, Florida 33431
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(Address of Principal (Zip Code)
Executive Offices)
(561) 995-2600
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS
On August 31, 1998, the Registrant issued the press release attached hereto
as Exhibit 99.1, which is incorporated herein by reference. The press
releases announces that (1) on Friday, August 28, 1998, NASDAQ Stock Market,
Inc., informed the Company that its securities would be delisted from the
NASDAQ National Market, effective as of the close of business on Friday,
August 28, 1998, and (2) in light of its Chapter 11 filing on Thursday,
August 27, 1998, the Company does not intend to appeal NASDAQ's decision.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press release issued Monday, August 31, 1998, by the Registrant
announcing the delisting of its securities from the NASDAQ
National Market, effective at the close of business on Friday,
August 28, 1998, and the Company's intention not to appeal
NASDAQ's decision.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BROTHERS GOURMET COFFEES, INC.
(Registrant)
/s/ Barry Bilmes
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Date: August 31, 1998 By: Barry Bilmes
Title: Vice President Finance and
Administration
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EXHIBIT 99.1
BROTHERS GOURMET COFFEES, INC.
FOR IMMEDIATE RELEASE
CONTACT: BARRY BILMES
VICE PRESIDENT FINANCE AND ADMINISTRATION
BROTHERS GOURMET COFFEES, INC.
561-995-2600
BROTHERS GOURMET COFFEES, INC.,
ANNOUNCES THE DELISTING OF ITS SECURITIES
FROM THE NASDAQ NATIONAL MARKET
BOCA RATON, FLORIDA, MONDAY, AUGUST 31, 1998: Brothers Gourmet Coffees,
Inc., announced today that the NASDAQ Stock Market, Inc., informed the
Company on Friday, August 28, 1998, that its securities would be delisted
from the NASDAQ National Market, effective as of the close of business on
Friday, August 28, 1998. In light of its Chapter 11 filing on Thursday,
August 27, 1998, the Company does not intend to appeal NASDAQ's decision.
Brothers Gourmet Coffees, Inc., is an integrated sourcer, roaster and
wholesaler of high quality gourmet coffee products. The Company is one of
the leading wholesale suppliers of gourmet coffees in the United States. The
Company distributes its products principally through grocery stores,
supermarkets, mass merchandisers, drug stores, military commissaries,
warehouse stores and specialty stores.
STATEMENTS CONTAINED IN THIS NEWS RELEASE, IF NOT HISTORICAL, ARE
FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE
SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES EXCHANGE ACT OF
1934, WHICH INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS
TO DIFFER MATERIALLY FROM THE RESULTS DESCRIBED IN THE FORWARD LOOKING
STATEMENTS. SUCH RISKS AND UNCERTAINTIES INCLUDE THE COMPANY'S HIGH LEVEL OF
DEBT AND LEVERAGE, THE EFFECT ON VENDORS AND CUSTOMERS OF THE COMPANY'S
DECISION TO VOLUNTARILY FILE FOR PROTECTION UNDER CHAPTER 11 OF THE FEDERAL
BANKRUPTCY LAWS, THE COMPANY'S DEPENDENCE ON KEY PERSONNEL, COMPETITION IN
THE COMPANY'S MARKETS, COMPETITIVE CHANGES IN THE WHOLESALE DISTRIBUTION
SEGMENT OF THE GOURMET COFFEE MARKET, THE EFFECTS OF SEASONALITY ON THE
COMPANY'S BUSINESS, THE STRUCTURE AND TERMS OF THE COMPANY'S PLAN OF
REORGANIZATION. A FURTHER DISCUSSION OF FACTORS THAT COULD AFFECT THE
COMPANY'S BUSINESS AND RESULTS OF OPERATIONS IS INCLUDED IN THE COMPANY'S
REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.
