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): December 15, 1998
WILLCOX & GIBBS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
333-24507 22-3308457
(Commission File Number) (IRS Employer Identification No.)
900 Milik Street, Cartaret, New Jersey 07008
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (732) 541-6255
ITEM 5. OTHER EVENTS
Willcox & Gibbs, Inc. (the "Company") did not make the interest
payment on its 12-1/4% Senior Notes due 2003 scheduled for December 15, 1998.
The Company has entered into discussions with an unofficial committee of the
holders of such Notes regarding a possible restructuring of such Notes. However,
the Company cannot predict the results of such discussions.
In an unrelated matter, the Company has entered into a new
Distributorship Agreement with G.M. Pfaff AG, in the form of Exhibit 10.1
hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
EXHIBIT NO. DESCRIPTION
10.1 Distributorship Agreement, dated as of
October 1, 1998, between G.M. Pfaff AG
and the Company.
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.
WILLCOX & GIBBS, INC.
Date: December 16, 1998 By /s/ JOHN K. ZIEGLER
----------------------------
John K. Ziegler
Chairman of the Board and
Chief Executive Officer