UNITED STATES
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): March 26, 2003
-------------------------
WKI HOLDING COMPANY, INC.
-------------------------
(Exact name of registrant as specified in its charter)
Delaware 022-28646 16-1403318
------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) File Number) Identification No.)
11911 FREEDOM DRIVE, SUITE 600, RESTON, VA 20190
-------------------------------------------------
(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code: 703-456-4700
ITEM 5. OTHER EVENTS.
As previously announced, effective January 31, 2003, the Second Amended
Joint Plan of Reorganization of World Kitchen, Inc., its Parent Corporation
and its Subsidiary Debtors, dated November 15, 2002, as modified (the
"Plan"), became effective, and WKI Holding Company, Inc. (the "Company")
and its U. S. subsidiaries emerged from the reorganization proceedings
under Chapter 11 of the United States Bankruptcy Code as reorganized
entities.
In connection with its emergence from the Chapter 11 reorganization
process, the Company reflected the terms of the Plan in its consolidated
financial statements by adopting the Fresh Start Accounting provisions of
the American Institute of Certified Public Accountants Statement of
Position 90-7, "Financial Reporting by Entities in Reorganization Under the
Bankruptcy Code." Although the Company did not emerge from its Chapter 11
proceedings until January 31, 2003, the Company recorded the effects of the
Plan and Fresh Start Reporting as of December 31, 2002 because all material
conditions precedent to the Plan becoming binding were resolved on or prior
to December 31, 2002. Under Fresh Start Reporting, a new reporting entity
is deemed to be created, and the recorded amounts of assets and liabilities
are adjusted to reflect their estimated fair values. The Fresh Start
Reporting adjustments have been recorded in the Company's consolidated
financial statements in the manner described in the notes thereto.
The consolidated financial statements of the Company for the years ended
December 31, 2002, 2001 and 2000, together with the related report of
independent auditors, are attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) THE FOLLOWING ARE FILED AS EXHIBITS TO THIS REPORT
Exhibit No. Description of Exhibit
- ----------- ----------------------
99.1 The consolidated financial statements of the Company for the
years ended December 31, 2002, 2001 and 2000, together with
the related report of independent auditors
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.
WKI HOLDING COMPANY, INC.
-------------------------
(Registrant)
Date: May 14, 2003 /s/ Raymond J. Kulla
--------------------------
Name: Raymond J. Kulla
Title: Vice President and
General Counsel
INDEX TO EXHIBITS
Exhibit No. Description of Exhibit
- ----------- ----------------------
99.1 The consolidated financial statements of the Company for the
years ended December 31, 2002, 2001 and 2000, together with
the related report of independent auditors