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) June 14, 1996
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LADD FURNITURE, INC.
(Exact name of registrant as specified in its charter)
North Carolina 0-11577 56-1311320
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of Incorporation)
One Plaza Center, Box HP-3, High Point, North Carolina 27261-1500
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (910) 889-0333
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N/A
(Former name or former address, if changed since last report.)
ITEM 1. Changes in Control of Registrant.
Not Applicable.
ITEM 2. Acquisition or Disposition of Assets.
Not Applicable.
ITEM 3. Bankruptcy or Receivership.
Not Applicable.
ITEM 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
ITEM 5. Other Events.
On March 29, 1996, the Registrant obtained a waiver (the "Initial
Waiver") of a requirement contained in the Amended and Restated Credit Agreement
with NationsBank, N.A., as Agent, ("NationsBank") dated October 19, 1994, as
amended (the "Credit Facility") to pledge the Registrant's interests in real
estate to secure the obligations under the Credit Facility by June 15, 1996, if
the Credit Facility was not repaid by May 15, 1996.
On June 14, 1996, the Registrant entered into an Amendment and Waiver
Agreement No. 2 whereby it was agreed to postpone the requirement to pledge
the real estate assets until July 15, 1996. Should the Registrant fail to
repay all obligations under the Credit Facility by July 15, 1996, the
Registrant will on July 15, 1996 execute and deliver documents necessary
to provide a perfected lien on all material parcels of real estate owned by
the Registrant or its subsidiaries as security for the obligations under
the Credit Facility.
ITEM 6. Resignations of Registrant's Directors.
Not Applicable.
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ITEM 7. Financial Statements and Exhibits.
a) Exhibits
10.1 Amendment and Waiver Agreement No. 2 among
LADD Furniture, Inc., NationsBank, N.A.
f/k/a NationsBank, N.A. (Carolinas), f/k/a
NationsBank of North Carolina, N.A., as
Agent, certain identified guarantors and
certain identified banks, dated June 14,
1996.
ITEM 8. Change in Fiscal Year.
Not Applicable.
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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.
LADD FURNITURE, INC.
Date: June 21, 1996 By: /s/William S. Creekmuir
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William S. Creekmuir
Title: Executive Vice President, Chief Financial
Officer, Treasurer and Secretary