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): March 5, 2003
Burlington Industries, Inc.
(Exact Name of Registrant)
Delaware 1-10984 56-1584586
-------- ------- ----------
(State of Incorporation) (Commission File Number) (IRS Employer ID No.)
3300 West Friendly Avenue
Greensboro, North Carolina 27410
(Address of Principal Executive Offices)
Registrant's telephone number: 336-379-2000
ITEM 5. Other Events.
On March 6, 2003, Burlington announced that, in accordance with a March
5th Bankruptcy Court ruling, Burlington has initiated a process to solicit
alternative reorganization proposals. A copy of the press release is attached as
Exhibit 99.1.
ITEM 7. Financial Statements and Exhibits.
See attached exhibit index.
SIGNATURE
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.
BURLINGTON INDUSTRIES, INC.
By: /s/ JOHN D. ENGLAR
-------------------------------------------------
Name: John D. Englar
Title: Senior Vice President, Corporate
Development and Law
Dated: March 10, 2003
INDEX TO EXHIBITS
Number Exhibit
99.1 Press release, dated March 6, 2003.
Exhibit 99.1
Burlington to Conduct Sale Process
GREENSBORO, N.C., March 6 /PRNewswire-FirstCall/ -- Burlington Industries, Inc.
(OTC Bulletin Board: BRLG - News) said that, in accordance with a Bankruptcy
Court ruling yesterday, Burlington has initiated a process to solicit proposals
from qualified bidders for the sale of the Company. Burlington's objective is to
emerge from Chapter 11 reorganization proceedings by this summer.
Potential qualified bidders are encouraged to contact Charles Peters,
Burlington's Chief Financial Officer, at (888) 318-7649.
With operations in the United States, Mexico and India and a global
manufacturing and product development network based in Hong Kong, Burlington
Industries is one of the world's most diversified marketers and manufacturers of
softgoods for apparel and interior furnishings.
This press release contains statements that are forward-looking statements
within the meaning of applicable federal securities laws and are based upon the
company's current expectations and assumptions, which are subject to a number of
risks and uncertainties that could cause actual results to differ materially
from those anticipated. Such risks and uncertainties include, among other
things, global economic activity and the implications thereon of the attack on
September 11 and the U.S. government's response thereto and the possibility of
armed conflict with Iraq, the success of the company's overall business strategy
including successful implementation of the company's restructuring plan and the
company's development of a global sourcing structure, the demand for textile
products, the cost and availability of raw materials and labor, governmental
legislation and regulatory changes, and the long-term implications of regional
trade blocs and the effect of quota phase- out and lowering of tariffs under the
WTO trade regime, the impact that the company's Chapter 11 proceeding has had or
may have on the company's relationships with its principal customers and
suppliers, the nature of the capital structure which is approved in the
company's plan or reorganization and the company's ongoing ability to finance
its operations and restructuring activities, the cost of future capital sources,
and the exposure to interest rate and currency fluctuations, the company's
ability to utilize tax loss carryforwards and retain tax refunds received or to
be received, and other factors identified in Burlington's filings with the
Securities and Exchange Commission.