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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
August 16, 2007
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))
Item 1.03 Bankruptcy or Receivership
On August 17, 2007, Quaker Fabric Corporation announced that it and its wholly
owned subsidiary, Quaker Fabric Corporation of Fall River (together, the
"Debtors"), had filed voluntary petitions for relief under Chapter 11 of the
U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware
(Case No. 07-11146). The Debtors' affiliates outside the United States were not
included in the Chapter 11 filing. The Debtors remain in possession of their
assets and properties as "debtors-in-possession" pursuant to sections 1107(a)
and 1108 of the Bankruptcy Code, and during the Chapter 11 process, the Debtors
will continue the liquidation process they began in July. On August 16, 2007,
the Debtors reached an agreement for up to $1,650,000 in new
debtor-in-possession (DIP) financing. Upon Court approval, this DIP financing
will provide sufficient funding during the Chapter 11 process. A copy of the
press release is filed as an exhibit to the Report on Form 8-K and is
incorporated here by reference.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
99.1 Registrant's Press Release dated August 17, 2007
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: August 17, 2007 /s/ Paul J. Kelly
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Paul J. Kelly
Vice President - Finance and Treasurer
EXHIBIT INDEX
99.1 Registrant's Press Release dated August 17, 2007