SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): JUNE 15, 2000
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INTERIORS, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-24352 13-3590047
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
320 WASHINGTON STREET
MOUNT VERNON, NEW YORK 10553
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (914) 665-5400
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(Former Name or Former Address, if Changed Since Last Report)
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CURRENT REPORT ON FORM 8-K
INTERIORS, INC.
JUNE 15, 2000
ITEM 5. OTHER EVENTS.
On June 15, 2000, Interiors, Inc. (the "Registrant") entered into a Loan
and Security Agreement (the "Agreement") by and among the Registrant, Artisan
House, Inc. ("Artisan House"), CSL Lighting Manufacturing, Inc. ("CSL"), Model
Home Interiors, Inc. ("MHI") Petals, Inc. ("Petals"), Stylecraft Lamps, Inc.
("Stylecraft"), Troy Lighting, Inc. ("Troy"), Vanguard Studios, Inc.
("Vanguard"), Windsor Art, Inc. ("Windsor", and together with the Registrant,
Artisan House, CSL, MHI, Petals, Stylecraft, Troy and Vanguard, the "Borrowers")
and Foothill Capital Corporation ("Foothill"), as Lender. Artisan House and CSL
are affiliates of the Registrant. MHI, Petals, Stylecraft, Troy, Vanguard and
Windsor are all wholly owned subsidiaries of the Registrant. Any capitalized
terms used herein and not defined are given the definitions applied to such
terms in the Agreement.
Pursuant to the terms and conditions of the Agreement, Foothill agreed to
make revolving credit loans and advances based on agreed upon percentages of
eligible accounts receivable and inventory of the Borrowers, and also to provide
the Borrowers with two term loans aggregating $3,659,000 Total outstanding
borrowings under the credit facility may not exceed $25,000,000. In
consideration for the Loan, the Borrowers each agreed to grant Foothill a
continuing security interest in all currently existing and thereafter acquired
Personal Property Collateral and Real Property Collateral.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Business Acquired.
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Not Applicable.
(b) Pro Forma Financial Information.
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Not Applicable.
(c) Exhibits.
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EXHIBIT NO. DESCRIPTION
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99.1 Loan and Security Agreement, dated as of
June 15, 2000, by and among, Interiors,
Inc. Artisan House, Inc., CSL Lighting
Manufacturing, Inc., Model Home
Interiors, Inc., Petals, Inc.,
Stylecraft Lamps, Inc., Troy Lighting,
Inc., Vanguard Studios, Inc., Windsor
Art, Inc. and Foothill Capital
Corporation, as Lender.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this Current Report to be signed on its
behalf by the undersigned thereunto duly authorized.
INTERIORS, INC.
Date: June 15, 2000 By: /s/ Max Munn
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Max Munn, Chief Executive Officer
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EXHIBIT INDEX
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EXHIBIT NO. DESCRIPTION
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99.1 Loan and Security Agreement, dated as of
June 15, 2000, by and among, Interiors,
Inc. Artisan House, Inc., CSL Lighting
Manufacturing, Inc., Model Home
Interiors, Inc., Petals, Inc.,
Stylecraft Lamps, Inc., Troy Lighting,
Inc., Vanguard Studios, Inc., Windsor
Art, Inc. and Foothill Capital
Corporation, as Lender.
