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
Date of Report (Date of earliest event reported) February 19, 2002
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GALEY & LORD, 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)
0-20080 56-1593207
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(Commission File Number) (IRS Employer Identification Number)
980 Avenue of the Americas, New York, NY 10008
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code (212) 465-3000
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ITEM 3. Bankruptcy or Receivership
On February 19, 2002, Galey & Lord, Inc. (the "Company") and each of
its domestic subsidiaries filed voluntary petitions under chapter 11 of title
11, United States Code (the "Bankruptcy Code") in the United States Bankruptcy
Court for the Southern District of New York (Case Nos. 02-40445 through 02-40456
(ALG)). The Company and such subsidiaries remain in possession of their assets
and properties and continue to operate their businesses and manage their
properties as debtors-in-possession pursuant to sections 1107(a) and 1108 of the
Bankruptcy Code. On February 19, 2002, the Company and such subsidiaries filed a
motion seeking to enter into a credit facility of up to $100 million in
debtor-in-possession ("DIP") financing with First Union National Bank and
Wachovia Securities, Inc. On February 21, 2002, the Bankruptcy Court entered an
interim order approving the facility and authorizing immediate access to $30
million, and scheduling a hearing on March 19, 2002, or such other date as the
Court may provide, to consider final approval of the facility. The Company
issued a press release, a copy of which is attached hereto as Exhibit 99.1 and
incorporated by reference herein, announcing the chapter 11 filing and the DIP
financing.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits:
99.1 Press Release, dated February 19, 2002
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SIGNATURES
Pursuant to the requirements of Section 12 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.
GALEY & LORD, INC.
By: /s/ Leonard F. Ferro
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Leonard F. Ferro
Vice President
Date: March 6, 2002
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