-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ThJUOgGJ8z683s94nT+e9sbTDGEmAnTIJEKmdD+6c3jo/mfAbdq8vWqhzGd4WhV8 +7vPZm8C/imK3FTD+BMV5A== 0000909518-97-000447.txt : 19970811 0000909518-97-000447.hdr.sgml : 19970811 ACCESSION NUMBER: 0000909518-97-000447 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970801 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970808 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: JPS TEXTILE GROUP INC /DE/ CENTRAL INDEX KEY: 0000846615 STANDARD INDUSTRIAL CLASSIFICATION: BROADWOVEN FABRIC MILLS, COTTON [2211] IRS NUMBER: 570868166 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-27038 FILM NUMBER: 97653447 BUSINESS ADDRESS: STREET 1: 555 N PLEASANTBURG DR STE 202 CITY: GREENVILLE STATE: SC ZIP: 29607 BUSINESS PHONE: 8642393900 MAIL ADDRESS: STREET 1: 555 N PLEASANTBURG DR STREET 2: SUITE 202 CITY: GREENVILLE STATE: SC ZIP: 29607 8-K 1 JPS TEXTILE GROUP, INC. 8K ================================================================================ 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): August 1, 1997 -------------- JPS TEXTILE GROUP, INC. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in its Charter) DELAWARE - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 33-27038 57-0868166 - --------------------------------- ------------------------------------- (Commission File Number) (I.R.S. Employer Identification No.) 555 NORTH PLEASANTBURG DRIVE, SUITE 202 GREENVILLE, SOUTH CAROLINA 29607 - ----------------------------------------------- ------------ (Address of Principal Executive Offices) (Zip Code) (864) 239-3900 - -------------------------------------------------------------------------------- (Registrant's Telephone Number, Including Area Code) NOT APPLICABLE - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) ================================================================================ Item 5. Other Events. Filed herewith is a copy of the JPS Textile Group, Inc. (the "Company") Press Release, dated August 1, 1997, announcing the filing, on August 1, 1997, of the Joint Plan of Reorganization of the Company and its wholly-owned subsidiary, JPS Capital Corp. with the United States Bankruptcy Court for the Southern District of New York under chapter 11, title 11, of the United States Code. Item 7. Exhibits. (c) Exhibit: (99) Press Release, dated August 1, 1997. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized. JPS TEXTILE GROUP, INC. By: /s/ David H. Taylor --------------------------- Name: David H. Taylor Title: Executive Vice President - Finance and Secretary Date: August 1, 1997 2 Exhibit Index ------------- Exhibit No. Description of Exhibit - ---------- ---------------------- 99 Press release issued by the Company on August 1, 1997.* - ----------------------- *Filed herewith 3 NYFS09...:\75\55175\0042\1824\FRM8047R.210 EX-99 2 PRESS RELEASE CONTACT: Wendi Kopsick Jim Fingeroth Kekst and Company (212) 521-4800 FOR IMMEDIATE RELEASE --------------------- JPS TEXTILE RESTRUCTURING PLAN SUPPORTED BY 93% OF BONDHOLDERS IN SOLICITATION ------------------------------------- --Company Files Plan with U.S. Bankruptcy Court-- GREENVILLE, SC, August 1, 1997 - JPS Textile Group announced today that it has received votes from over 93% of its bondholders in favor of its previously announced restructuring plan, and, consequently, has filed the plan with the U.S. Bankruptcy Court for the Southern District of New York for approval. The results of the vote demonstrate overwhelming support for the restructuring plan. Approximately 99.8% of the votes received from bondholders were acceptances of the plan. The Company has also received votes from holders of approximately 68% of the outstanding shares of its senior preferred stock, all of which were in favor of the plan. The plan provides for the restructuring to be effected through a voluntary "prepackaged" chapter 11 case, which will take place at the holding level only. JPS Textile's operating subsidiaries, JPS Converter & Industrial Corp. and JPS Elastomerics Corp., have not filed for chapter 11 and will continue to conduct business as usual. Jerry Hunter, Chairman, President and Chief Executive Officer, commented, "The filing of our plan with the Court is another step forward in the creation of a new capital structure that will support our long-term growth and profitability. We are gratified by the outstanding support we received from our securityholders in the solicitation and look forward to moving ahead as quickly as possible with the confirmation and implementation of our plan." The Company intends to request that a confirmation hearing be scheduled in September. JPS Textile, with consolidated annual revenues of approximately $450 million, is one of the largest domestic manufacturers of textile and textile related products for the apparel fabric, industrial and home fashion markets. 1 NYFS09...:\75\55175\0042\1824\REL8057R.480 -----END PRIVACY-ENHANCED MESSAGE-----