SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): January 4, 1999
BRAZOS SPORTSWEAR, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 0-18054 91-1770931
(STATE OF INCORPORATION) (COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.)
4101 FOUNDERS BOULEVARD
CINCINNATI, OHIO 45103-2553
(ADDRESS OF REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES)
(513) 753-3400
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
ITEM 5. OTHER EVENTS
On January 4, 1999, the Company announced that it has not paid and does
not expect to pay the scheduled January 1, 1999 interest payment on its $100
million 10-1/2% Senior Notes due 2007 (the "Senior Notes"). If the payment
default with respect to the Senior Notes is not cured within 30 days, then
subject to the terms of the governing indenture, the trustee or note holders
will have the right to declare the $100 million principal amount of the Senior
Notes, together with accrued and unpaid interest, immediately due and payable.
If the obligations under the Senior Notes are accelerated, the Company's
business will be materially and adversely impacted and as a result, it may be
forced to seek protection under federal bankruptcy laws. A copy of the press
release with respect to the foregoing is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
EXHIBIT NO. EXHIBIT
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10.1 Third Amendment to Third Amended and Restated Loan and Security
Agreement dated November 16, 1998, among the Company and its
senior lenders.
10.2 Amendment to Forbearance Agreement and Fourth Amendment to Third
Amended and Restated Loan and Security Agreement dated November
30, 1998, among the Company and its senior lenders.
10.3 Fifth Amendment to Third Amended and Restated Loan and Security
Agreement dated December 18, 1998, among the Company and its
senior lenders.
99.1 Press Release of Brazos Sportswear, Inc. dated January 4, 1999.
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.
DATED this 5th day of January, 1999.
BRAZOS SPORTSWEAR, INC.
By: /s/ F. CLAYTON CHAMBERS
F. Clayton Chambers,
Vice President and Chief
Financial Officer