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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 and Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
June 1, 2000
FAMILY GOLF CENTERS, INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 0-25098 11-3223246
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) No.)
538 Broadhollow Road
Melville, New York 11747
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(Address of principal executive offices)
Registrant's Telephone Number, including
area code: (631) 694-1666
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(Former Address, if changed since last report)
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Item 5. Other Events.
Family Golf Centers, Inc. (the "Company") received notice from the
Nasdaq Listing Qualifications Staff (the "Staff") that it had determined that
given the Company's May 4, 2000 filing under Chapter 11 of the U.S. Bankruptcy
Code, the continued listing of the Company's securities on The Nasdaq Stock
Market was no longer warranted and, accordingly, the Company's securities were
delisted on June 1, 2000. The Company does not intend to appeal the Staff's
determination.
On June 2, 2000, the Company received final approval from the
bankruptcy court of its $15 million debtor-in-possession credit facility (the
"DIP Facility") from The Chase Manhattan Bank. The DIP Facility is available to
the Company for working capital and to pay post-petition operating expenses.
The foregoing disclosure is qualified in its entirety by reference to
the Revolving Credit Agreement and to the Final Order issued by the bankruptcy
court and filed herewith as exhibits 2 and 3, hereto.
Item 7. Financial Statements, Pro Forma Financial Statements and
Exhibits.
(c) Exhibits.
1. Press Release issued by the Company on June 6, 2000.
2. Revolving Credit and Guaranty Agreement, dated June 2, 2000,
among Family Golf Centers, Inc., a debtor and a
debtor-in-possession (the "Borrower"), the subsidiaries of the
Borrower named therein (the "Guarantors"), the Banks party
thereto (the "Banks") and The Chase Manhattan Bank, as Agent
for the Banks.
3. In re: Randall's Island Family Golf Centers, Inc., et. al.
Debtors, Chapter 11, Case Nos. 00-B-41065 (SMB) through
00-41196 (SMB) (Jointly Administered), Final Order, filed in
the United States Bankruptcy Court Southern District of New
York, dated June 2, 2000.
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SIGNATURES
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.
June 7, 2000
FAMILY GOLF CENTERS, INC.
By: /s/ Pamela S. Charles
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Pamela S. Charles,
Vice President and Secretary
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INDEX TO EXHIBITS
No. Exhibit Description
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1. Press Release issued by the Company on June 6, 2000.
2. Revolving Credit and Guaranty Agreement, dated June 2, 2000,
among Family Golf Centers, Inc., a debtor and a
debtor-in-possession (the "Borrower"), the subsidiaries of the
Borrower named therein (the "Guarantors"), the Banks party
thereto (the "Banks") and The Chase Manhattan Bank, as Agent
for the Banks.
3. In re: Randall's Island Family Golf Centers, Inc., et. al.
Debtors, Chapter 11, Case Nos. 00-B-41065 (SMB) through
00-41196 (SMB) (Jointly Administered), Final Order, filed in
the United States Bankruptcy Court Southern District of New
York, dated June 2, 2000.
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