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) NOVEMBER 15, 2001
------------------------------
BURLINGTON INDUSTRIES, INC.
- --------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
1-10984 56-1584586
- ---------------------------- ------------------------------------
(Commission File Number) (IRS Employer Identification Number)
3330 West Friendly Avenue, Greensboro, North Carolina 27410
-------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(336) 379-2000
(Registrant's Telephone Number, Including Area Code)
------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
Item 3. Bankruptcy or Receivership.
On November 15, 2001, Burlington Industries, Inc. (the "Company") and
certain of its subsidiaries filed voluntary petitions under chapter 11 of title
11, United States Code (the "Bankruptcy Code") in the United States Bankruptcy
Court for the district of Delaware (Case Nos. 01-11282 through 01-11306). The
Company and its subsidiaries remain in possession of their assets and properties
and continue to operate their businesses and manage their properties as
debtors-in-possession pursuant to sections 1107(a) and 1108 of the Bankruptcy
Code. On November 15, 2001, the Bankruptcy Court issued an interim order
authorizing the Company to enter into a credit facility of up to $190 million in
debtor-in-possession (DIP) financing underwritten by J.P. Morgan Chase & Co. The
Company issued a press release, a copy of which is attached hereto as Exhibit
99.1 and incorporated by reference herein, announcing the chapter 11 filing and
the DIP financing. A copy of the credit facility is attached hereto as Exhibit
99.2 and incorporated by reference herein.
Item 5. Other Events.
On November 16, 2001, the New York Stock Exchange notified the Company
that, in view of the fact that the Company announced that it and certain of its
U.S. subsidiaries had filed voluntary petitions for reorganization under Chapter
11, it had determined to suspend trading of the Company's common stock and to
file an application with the Securities and Exchange Commission to delist the
Company's common stock.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit Number Exhibit
99.1 Press release, dated November 15, 2001
99.2 Revolving Credit and Guaranty Agreement
among Burlington Industries, Inc., a
Debtor and a Debtor-in Possession under
Chapter 11 of the Bankruptcy Code, as
Borrower, and The Subsidiaries of the
Borrower Named Herein, each a Debtor and
a Debtor-in-Possession under Chapter 11
of the Bankruptcy Code, as Guarantors,
and The Banks Party Hereto, and JP Morgan
Chase Bank, as Administrative Agent,
Documentation Agent and Collateral Agent,
J.P. Morgan Securities, Inc., as Book
Manager and Lead Arranger, together with
Exhibit B, Form of Security and Pledge
Agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 as
amended, the Company has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
BURLINGTON INDUSTRIES, INC.
Date: November 28, 2001
By: /s/ JOHN D. ENGLAR
---------------------------------
John D. Englar
Senior Vice President,
Corporate Development and Law