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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): October 5, 2001
(July 16, 2001)
DYERSBURG CORPORATION
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(Exact name of registrant as specified in charter)
Tennessee 1-11126 62-0188460
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
15720 John J. Delaney Drive, Suite 445, Charlotte, North Carolina 28277-2747
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (704) 341-229
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On July 16, 2001, Dyersburg Corporation, together with its direct and
indirect subsidiaries (collectively, "Dyersburg," or the "Company"), announced
the Company's intention to wind up its remaining businesses and commence an
orderly liquidation of the Company's assets under the supervision of the
Bankruptcy Court and the creditors of the Company.
On September 25, 2000, the Company (together with United Knitting
Limited Partnership, I, formerly an indirect subsidiary of Dyersburg
Corporation) filed petitions under Chapter 11 of Title 11 of the United States
Code, in Bankruptcy Court for the District of Delaware, Case No. 00-3746,
Jointly Administered, in order to implement a financial restructuring in
accordance with a Joint Consolidated Plan of Reorganization (the "Plan") and a
related Disclosure Statement. The Company cited general economic trends,
increased competition from abroad and lack of available sources of exit
financing as the reasons for its decision to cease operations. The Plan is no
longer feasible in light of the Company's anticipated liquidation, and will be
abandoned.
Dyersburg ceased its manufacturing operations in early September 2001
and has completed filling existing orders for its remaining customers.
Dyersburg was a marketer of circular knit fleece and jersey fabrics.
The Company produced fabrics that are used principally for activewear, bodywear,
outerwear and various branded sportswear. Dyersburg also operated a garment
packaging business in the Dominican Republic and Central America.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
The press release includes, and other communications from the Company
may include, forward-looking statements subject to various assumptions regarding
the Company's operating performance that may not be realized and which are
subject to significant known and unknown business, economic and competitive
uncertainties and contingencies, many of which are beyond the Company's control.
Consequently such matters should not be regarded as a representation or warranty
by the Company that such matters will be realized or are indicative of the
Company's financial condition or operating results for future periods. Actual
results may differ materially from those contemplated by any forward-looking
statement. These forward-looking statements are being made in reliance upon the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995.
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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 hereunto duly authorized.
DYERSBURG CORPORATION
Dated: October 5, 2001 /s/ William S. Shropshire
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William S. Shropshire
Chief Executive Officer, Chief Financial
Officer, Secretary and Treasurer
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