-----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, MFMBr60AXvXWQrYcsTG2Wk1ElIEcmwnUfePfPU78wvZX8klEi7wEcTkEqjbuLYR1 i6C4/l6rAUsSFK0pESNFlw== 0001104659-06-060084.txt : 20060908 0001104659-06-060084.hdr.sgml : 20060908 20060908122131 ACCESSION NUMBER: 0001104659-06-060084 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060901 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20060908 DATE AS OF CHANGE: 20060908 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Zumiez Inc CENTRAL INDEX KEY: 0001318008 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-APPAREL & ACCESSORY STORES [5600] IRS NUMBER: 911040022 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-51300 FILM NUMBER: 061081045 BUSINESS ADDRESS: STREET 1: 6300 MERRILL CREEK PARKWAY STREET 2: SUITE B CITY: EVERETT STATE: WA ZIP: 98203 BUSINESS PHONE: 425-551-1564 MAIL ADDRESS: STREET 1: 6300 MERRILL CREEK PARKWAY STREET 2: SUITE B CITY: EVERETT STATE: WA ZIP: 98203 8-K 1 a06-19381_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):  September 1, 2006

ZUMIEZ INC.
(Exact Name of Registrant as Specified in Its Charter)

Washington
(State or Other Jurisdiction of Incorporation)

000-51300

 

91-1040022

(Commission File Number)

 

(IRS Employer Identification No.)

 

6300 Merrill Creek Parkway, Suite B, Everett, Washington

98203

(Address of Principal Executive Offices)

(Zip Code)

 

(425) 551-1500
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(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 (see General Instruction A.2. below):

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



Item 1.01.              Entry Into a Material Definitive Agreement

On September 1, 2006, Zumiez Inc. (the “Company”) entered into a secured credit agreement (the “Credit Agreement”) with Wells Fargo HSBC Trade Bank, N.A. (“Wells Fargo”).  The Credit Agreement provides the Company with a senior revolving credit facility through August 30, 2009 of up to $25.0 million (the “New Facility”).  The New Facility replaces the Company’s $20.0 million secured revolving credit facility with Bank of America, N.A. (the “Prior Facility”), which terminated effective August 31, 2006.  See Item 1.02.  “Termination of a Material Definitive Agreement” below.

Amounts outstanding under the New Facility will bear interest at a floating rate of the prime rate minus 0.50% or a fixed rate of LIBOR plus 1.00%, in each case depending on the type of borrowing being made.  The Company’s obligations under the New Facility are secured by a first priority lien in the Company’s accounts receivable, inventory and equipment.  The Company must also provide financial information and statements to Wells Fargo.  The New Facility also contains financial covenants that require the Company to meet certain specified financial ratios, including, minimum net income after taxes, maximum leverage, and quick ratio.

Item 1.02.                                          Termination of a Material Definitive Agreement

The disclosure provided in Item 1.01 of this Form 8-K is hereby incorporated by reference into this Item 1.02.  On August 31, 2006, the Prior Facility with Bank of America, N.A. was terminated.  The Prior Facility was scheduled to expire on July 1, 2006 and had been extended on a month-to-month basis through its expiration on August 31, 2006.

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 hereunto duly authorized.

 

ZUMIEZ INC.

 

(Registrant)

 

 

 

Date: September 8, 2006

By:

/s/ Richard M. Brooks

 

 

Richard M. Brooks

 

 

President and Chief Executive Officer

 


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