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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
March 3, 2006
Date of Report (Date of earliest event reported)
QUAKER FABRIC CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1 7023 04-1933106
(State of incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
941 Grinnell Street, Fall River, Massachusetts 02721
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (508) 678-1951
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01 Entry into a Material Definitive Agreement
On March 3, 2006 Quaker Fabric Corporation of Fall River ("Quaker"), a
wholly-owned subsidiary of Quaker Fabric Corporation (the "Company"), entered
into a purchase and sale agreement with respect to the Company's 240,000 square
foot Plant D manufacturing facility located at 763 Quequechan Street in Fall
River, Massachusetts calling for the sale of this facility to Strictly Realty
LLC, a Massachusetts limited liability company, for $1.4 million (the "P&S").
Selling this facility is consistent with Quaker's overall efforts to reduce
operating expenses by consolidating its Fall River-based manufacturing
operations into as few plants as possible. The P&S calls for an initial deposit
of $10,000, a 60-day inspection period, and an additional deposit of $50,000
prior to the expiration of the inspection period should the Buyer elect to
proceed with the transaction. During the inspection period, the Buyer has the
right to review title, survey, permitting, environmental and other due diligence
matters related to the property, and to obtain financing and economic incentives
on terms and conditions satisfactory to the Buyer, in its sole discretion.
Closing of this transaction is anticipated no later than thirty (30) days
following the end of the inspection period.
The foregoing description of the P&S is qualified in its entirety by reference
to the P&S filed as Exhibit 10.30 to this Form 8-K and incorporated by reference
herein.
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Item 9.01 Financial Statements and Exhibits
(c) Exhibits
10.30 Purchase and Sale Agreement dated March 3, 2006 by and between Quaker
Fabric Corporation of Fall River, as Seller, and Strictly Realty LLC, as
Buyer
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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 thereunto duly authorized.
QUAKER FABRIC CORPORATION
(Registrant)
Date: March 6, 2006 /s/ Paul J. Kelly
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Paul J. Kelly
Vice President - Finance and Treasurer
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EXHIBIT INDEX
10.30 Purchase and Sale Agreement dated March 3, 2006 by and between Quaker
Fabric Corporation of Fall River, as Seller, and Strictly Realty LLC, as
Buyer
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