8-K

SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):  April 1, 2004

SPEIZMAN INDUSTRIES, INC.
(Exact Name of Registrant as Specified in Its Charter)

Delaware	0-8544	56-0901212
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

701 Griffith Road
Charlotte, North Carolina 28217
(Address of Principal Executive Offices) (Zip Code)

Mr. Paul R.M. Demmink
Vice President-Finance/CFO
701 Griffith Road

Charlotte, North Carolina 28217
(Name and Address of Agent For Service)

(704) 559-5777
(Telephone Number, Including Area Code, of Agent for Service)

Item 5.  Other Events.

Speizman Industries, Inc. issued a press release on Thursday, April 1, 2004, which is attached to this report as Exhibit 99.1.  The information set forth in this press release is incorporated herein by reference. 

Item 7.  Financial Statements and Exhibits.

 (c) Exhibits.

Exhibit Number	Description
99.1	Press Release of the Company dated April 1, 2004

                Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SPEIZMAN INDUSTRIES, INC. By: /s/ Paul R. M. Demmink                    Paul R. M. Demmink     Chief Financial Officer
Date:  April 1, 2004

EX-99

Exhibit 99.1

For Immediate Release:

SPEIZMAN ANNOUNCES MANAGEMENT CHANGES AND LAYOFFS

CHARLOTTE, NC, April 1, 2004 –Speizman Industries, Inc. (OTC Bulletin Board: SPZN.OB) announced today the resignation of the Company’s CEO, Bob Speizman, and its Senior Vice President, Mark Speizman.  Also resigning from the Company were Bryan Speizman, Barry Speizman and Don Mullen.  Paul Demmink, the Company’s chief financial officer, will also serve as its chief executive. 

“On behalf of the Company and its Board of Directors, we want to thank all of the Speizmans for their years of service and many contributions to the Company and wish them well in their future endeavors,” Mr. Demmink said. 

In addition, the Company announced that it has been notified by Lonati, SpA that the Company is in default under the Distributorship and Forbearance Agreement entered into by the parties in March 2004 for failure to pay certain amounts owed to Lonati.  Lonati’s affiliated companies, Santoni SpA, Tecnopea Srl and SRA Srl, have also notified the Company that it is in default under the parties’ March 2004 Distributorship Agreements for failure to pay certain amounts owed.  As a result, Lonati can take steps to collect any monies owed by the Company.  Lonati and its affiliates can terminate their distributor agreements with the Company, all of which extend to May 7, 2004.  This default under the Lonati agreement terminates the forbearance period relating to the Company’s credit facility with SouthTrust Bank, thereby giving SouthTrust the right to exercise its remedies under the loan documents.

The Company also announced the layoff of 17 employees, principally in its textile division located in Charlotte, North Carolina. The Company anticipates making an undetermined number of additional layoffs over the next several weeks.  Other reductions in the Company’s operations will be made during this timeframe. These layoffs and other reductions are due to the Company’s continuing losses and limited liquidity resulting from the significant decline in demand for the Company’s laundry and textile equipment.  The Company’s Board of Directors, with the assistance of its financial advisors, continues to review its alternatives, which include the potential sale of the Company’s sock and/or laundry divisions or a bankruptcy filing.  The Company anticipates continuing business operations while it reviews its alternatives.   

For additional information on Speizman Industries, please visit the Company's web site at www.speizman.com. To receive Speizman Industries' latest news release and other corporate documents, please contact Gail Gormly at 1-704-559-5777 or email ggormly@speizman.com.