-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ks8chjCO+M/w0P+Qk37mk16ssriu/IlRePGslu3cWcDINy1TSbjBz4wTxlfZIn5v hE+QXgN9buwKDneieD1SFQ== /in/edgar/work/0001116502-00-500166/0001116502-00-500166.txt : 20001121 0001116502-00-500166.hdr.sgml : 20001121 ACCESSION NUMBER: 0001116502-00-500166 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001117 ITEM INFORMATION: ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20001120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EMPIRE OF CAROLINA INC CENTRAL INDEX KEY: 0000312840 STANDARD INDUSTRIAL CLASSIFICATION: [3944 ] IRS NUMBER: 132999480 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07909 FILM NUMBER: 773298 BUSINESS ADDRESS: STREET 1: 4731 WEST ATLANTIC AVENUE SUITE B 1 CITY: DELRAY BEACH STATE: FL ZIP: 33445 BUSINESS PHONE: 5614984000 MAIL ADDRESS: STREET 1: 4731 WEST ATLANTIC AVENUE SUITE B 1 CITY: DELRAY BEACH STATE: FL ZIP: 33445 8-K 1 0001.txt CURRENT REPORT 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) November 17, 2000 ------------------ Empire of Carolina, Inc. ------------------------ (Exact name of registrant as specified in its charter) Delaware -------- (State or other jurisdiction of incorporation) 1-7909 13-2999480 ------ ---------- (Commission File Number) (IRS Employer Identification No.) 4731 West Atlantic Avenue, Suite B-1, Delray Beach, FL 33445 ------------------------------------------------------------ (Address of principal executive offices, including Zip Code) Registrant's telephone number, including area code (561) 498-4000 ----------------------------- - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 3. Bankruptcy or Receivership. On November 16, 2000, Empire of Carolina, Inc. and Empire Industries, Inc., its wholly-owned subsidiaries (collectively the "Company") filed voluntary petitions of protection and reorganization under Chapter 11 of the Federal Bankruptcy Code (the "Petitions") in the United States Bankruptcy Court for the Southern District of Florida, West Palm Beach Division, Case Nos. 00-35179-BKC-PGH and 00-35180-BKC-PGH. The Company will operate under the protection of the United States Bankruptcy Code as a debtor-in-possession. The Company will remain in possession of its assets and properties, and its business and affairs will continue to be managed by its directors and officers, subject in each case to the supervision of the Bankruptcy Court. In connection with the filing, the Company issued a Press Release dated November 17, 2000, which is attached hereto as Exhibit 99.1. Item 5. Other Events On November 17, 2000, upon notification that the Company intended to file the Petitions, AMEX advised the Company that it had suspended trading of the Company's common stock, Series A Preferred Stock and warrants until such time as it could evaluate the Company's continued listing. If Amex determines not to reinstate its listing , we believe that the Company's common stock, Series A preferred stock and warrants will trade on the Over the Counter Bulletin Board. At a meeting of the Board of Directors held on November 17, 2000, Timothy Moran resigned as Chairman of the Board of Directors and a director, effective at 5:00 p.m. on November 20, 2000. Mr. Moran will remain as acting Chief Executive Officer. Frederick W. Rosenbauer, Jr. was elected by the Board as the new Chairman of the Board of Directors. Item 7. Financial Statements, Pro Forma Financials and Exhibits (c) Exhibits Exhibit Number Description -------------- ----------- 99.1 Press Release dated November 17, 2000 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 thereunto duly authorized. EMPIRE OF CAROLINA, INC. By: /s/Timothy Moran ------------------------------------- Timothy Moran, Chairman of the Board, Dated: November 20, 2000. President and Chief Executive Officer EX-99.1 2 0002.txt PRESS RELEASE DATED NOVEMBER 17, 2000 PRESS RELEASE EMPIRE OF CAROLINA, INC. FILES CHAPTER 11 BANKRUPTCY PETITION Delray Beach, Florida----November 17, 2000--Empire of Carolina, Inc. (AMEX: EMP), and Empire Industries, Inc., its wholly-owned subsidiary, announced today that they have filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code. The filings took place in the United States Bankruptcy Court for the Southern District of Florida, West Palm Beach Division. Empire will remain in possession of its assets and properties, and its business and affairs will continue to be managed by Empire's directors and officers, subject in each case to the discretion and supervision of the Bankruptcy Court. This release contains certain forward-looking statements and information that are based on management's beliefs, as well as assumptions made by and information currently available to management, including management's plans and objectives. Such statements are subject to various risks and uncertainties. The Company's liquidity, capital resources, and results of operations may be affected from time to time by a number of factors and risks, including, but not limited to, the factors described in the Company's filings with the Securities and Exchange Commission; the ability of the Company to arrange debtor-in-possession financing; operate successfully under a Chapter 11 proceeding; obtain shipments and negotiate terms with vendors and service providers for current orders; fund and execute a new operating plan for the Company; attract and retain key executives and associates; meet competitive pressures which may affect the nature and viability of the Company's business strategy; generate cash flow; attract and retain customers; and manage its business notwithstanding potential adverse publicity. Certain of these as well as other risks and uncertainties are stated in more detail in the Company's Annual Report on Form 10-K and Registration Statement on Form S-3 filed under the Securities Act of 1933, Registration No. 333-57963. The Company undertakes no obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future events or developments. CONTACT: Thomas MacDougall, CFO of Empire of Carolina, Inc., 631-585-5400, or e-mail, tmacdougall@applesports.com -----END PRIVACY-ENHANCED MESSAGE-----