-----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, PtfLj7CrhKd8MrrVoGcLQlORRWJ/GKlz1ItmVvETygXRKSfaTbqEdZbOZQpYW17p qKK6aqPwmWtmdHp6prGPLw== 0000950152-04-000717.txt : 20040204 0000950152-04-000717.hdr.sgml : 20040204 20040204101848 ACCESSION NUMBER: 0000950152-04-000717 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040203 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARRY R G CORP /OH/ CENTRAL INDEX KEY: 0000749872 STANDARD INDUSTRIAL CLASSIFICATION: FOOTWEAR, (NO RUBBER) [3140] IRS NUMBER: 314362899 STATE OF INCORPORATION: OH FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08769 FILM NUMBER: 04565071 BUSINESS ADDRESS: STREET 1: 13405 YARMOUTH RD NW CITY: PICKERINGTON STATE: OH ZIP: 43147 BUSINESS PHONE: 6148646400 MAIL ADDRESS: STREET 1: 13405 YARMOUTH RD NW CITY: PICKERINGTON STATE: OH ZIP: 43147 8-K 1 l05466ae8vk.txt R. G. BARRY CORPORATION 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 Date of Report (Date of earliest event reported): February 3, 2004 ----------------- R. G. BARRY CORPORATION ----------------------------------------------------- (Exact name of registrant as specified in its charter) Ohio 1-8769 31-4362899 --------------- ---------------- ------------------ (State or other (Commission File (IRS Employer jurisdiction of Number) Identification No.) incorporation) 13405 Yarmouth Road N.W., Pickerington, Ohio 43147 -------------------------------------------------------- (Address of principal executive offices) (Zip Code) (614) 864-6400 ---------------------------------------------------- (Registrant's telephone number, including area code) Not Applicable ------------------------------- (Former name or former address, if changed since last report) ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (a) and (b). Not applicable. (c). Exhibits. Exhibit No. Description ----------- ----------- 99 News Release issued by R. G. Barry Corporation on February 3, 2004 ITEM 9. REGULATION FD DISCLOSURE. On February 3, 2004, R. G. Barry Corporation (the "Company") issued a news release reporting that it has been advised by its bank that it will not consider further amending of the Company's credit agreement to increase the availability of funding under that agreement and that the Company is actively seeking alternative forms of financing. A copy of the news release is attached as Exhibit 99 hereto and is incorporated herein by reference. -2- 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. R. G. BARRY CORPORATION Dated: February 4, 2004 By: /s/ Daniel D. Viren ---------------------------------- Daniel D. Viren Senior Vice President - Finance, Chief Financial Officer, Secretary and Treasurer -3- INDEX TO EXHIBITS Current Report on Form 8-K Dated February 3, 2004 R. G. Barry Corporation Exhibit No. Description - ----------- ----------- 99 News Release issued by R. G. Barry Corporation on February 3, 2004 -4- EX-99 3 l05466aexv99.txt EXHIBIT 99 EXHIBIT 99 AT THE COMPANY Daniel D. Viren , Senior Vice President-Finance (614) 864-6400 Roy Youst, Director Corporate Communications (614) 864-6400 FOR IMMEDIATE RELEASE Tuesday, February 3, 2004 R.G. BARRY CORPORATION PROVIDES UPDATE ON CREDIT AGREEMENT STATUS PICKERINGTON, OHIO - TUESDAY, FEBRUARY 3, 2004 -R.G. BARRY CORPORATION (NYSE:RGB) said today that it has been advised by its bank that it will not consider further amending of the company's credit agreement to increase the availability of funding under the agreement. The bank also said that it would not increase its current commitment to meet the anticipated cash needs of the company. While the company believes it should be able to satisfy its cash requirements in February by borrowing an additional $3.0 million from the bank, it does not have additional committed financing available in March. The bank also has advised the company that it believes "that there has occurred a non-curable default under the terms of the existing credit agreement," although, based on the facts available to it, the bank has not concluded that it should declare the company in default under the terms of the credit agreement. The bank's statement is based on its belief that the company has violated year-end financial covenants in the credit agreement. The company is in the process of finalizing its 2003 financial results and is not yet able to confirm whether year-end financial covenant violations did occur, although it recognizes that such violations are likely to have occurred. The bank has a security interest in substantially all of the assets of the company, and the declaration of default by the bank would put the company's continuing operations in jeopardy. The company recognizes that it is likely to need additional funding before the end of March. It is actively exploring available alternatives including seeking other sources of financing through an experienced consulting firm. In addition, the company is taking steps to delay when it will need additional financing by conserving cash, generating cash from the sale of inventory and pursuing other strategies. The company will be considering all of its options to address its credit and cash flow problems. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements in this release, other than statements of historical fact, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon our current plans, and reflect our current assessment of the risks and uncertainties related to our business. In addition, there are factors that could cause results to differ materially from those anticipated by some of the statements made. These factors include the Company's financial results for 2003, customer returns, the availability and costs of financing, the actual cash requirements of operating the Company and product demand. More general factors that could cause results to differ from those anticipated include: the economic and business environment and the impact of governmental regulations, both in the United States and abroad; the effects of direct sourcing by customers of competitive products from alternative suppliers; the loss of significant customers in connection with mergers, acquisitions, bankruptcies or other circumstances; economic, regulatory and cultural difficulties or delays in our business development outside the United States; our ability to improve processes and business practices to keep pace with the economic, competitive and technological environments; capacity, efficiency and supply constraints; weather; the effects of terrorist acts; acts of war; and other risks detailed in the our press releases, shareholder communications and Securities and Exchange Commission filings. -----END PRIVACY-ENHANCED MESSAGE-----