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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
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Date of Report (Date of Earliest Event Reported): June 26, 1997
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JPS Textile Group, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
33-27038 57-0868166
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(Commission File Number) (I.R.S. Employer Indentification No.)
555 North Pleasantburg Drive,
Suite 202 Greenville, South Carolina 29607
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(Zip Code)
(864) 239-3900
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
On June 26, 1997, JPS Textile Group, Inc. ("JPS") commenced a
solicitation of votes by the holders, as of the June 20, 1997 record date, of
JPS's 10.25% Senior Subordinated Notes due June 1, 1999, 10.85% Senior
Subordinated Discount Notes due June 1, 1999, 7% Subordinated Debentures due May
15, 2000, and Series A Senior Preferred Stock, to accept or reject the Joint
Plan of Reorganization of JPS and its wholly owned subsidiary, JPS Capital Corp.
(the "Plan") under chapter 11 of title 11, United States Code (the "Bankruptcy
Code"). The Plan is attached as Exhibit 1 to the Disclosure Statement, dated
June 25, 1997 (the "Disclosure Statement"), being filed herewith.
Votes on the Plan are being solicited pursuant to the Disclosure
Statement under section 1126(b) of the Bankruptcy Code, before the commencement
by JPS of a chapter 11 case. JPS does not anticipate that any of its
subsidiaries, including JPS Capital Corp., will commence chapter 11 cases.
Also filed herewith is a copy of the JPS Press Release, dated June 26,
1997, announcing the commencement of the solicitation and describing briefly the
terms of the Plan.
Item 7. Exhibits
(c) Exhibit:
2.1 Disclosure Statement, dated June 25, 1997 (including Joint Plan of
Reorganization (and the exhibits attached thereto) attached as Exhibit
1 thereto).
99 Press Release, dated June 26, 1997.
SIGNATURE
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 duly authorized.
JPS TEXTILE GROUP, INC.
By: /s/ David H. Taylor
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Name: David H. Taylor
Title: Executive Vice President--
Financial and Secretary
Date: July 2, 1997
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Exhibit Index
Exhibit No. Description of Exhibit
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2.1 Disclosure Statement, dated June 25, 1997 (including
Joint Plan of Reorganization (and exhibits attached
thereto) attached as Exhibit 1 thereto).*
99 Press Release, dated June 26, 1997.*
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* Filed herewith
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