-----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, LjRGILd+HSP30FBX0ocMretJh6qIp6M5OzSD8/3/nV7LQx38qAiYUSbSpkhF3Wk1 qS1S+SZsnGdW5lA/x3G8DA== /in/edgar/work/20000721/0000947871-00-000488/0000947871-00-000488.txt : 20000920 0000947871-00-000488.hdr.sgml : 20000920 ACCESSION NUMBER: 0000947871-00-000488 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000712 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000721 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUPERMARKETS GENERAL HOLDINGS CORP CENTRAL INDEX KEY: 0000821139 STANDARD INDUSTRIAL CLASSIFICATION: [5411 ] IRS NUMBER: 133408704 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-16404 FILM NUMBER: 676449 BUSINESS ADDRESS: STREET 1: 200 MILIK STREET CITY: CARTERET STATE: NJ ZIP: 07008 BUSINESS PHONE: 9084993000 MAIL ADDRESS: STREET 1: 200 MILIK STREET CITY: CARTERET STATE: NJ ZIP: 07008 8-K 1 0001.txt FORM 8-K 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): July 12, 2000 Supermarkets General Holdings Corporation (Exact name of Registrant as specified in its charter)
Delaware 0-16404 13-3408704 (State or other jurisdiction of (Commission (I.R.S. Employer Identification No.) incorporation) File Number)
200 Milik Street, Carteret, New Jersey (Address of principal executive offices) Registrant's telephone number, including area code: (732) 499-3000 Item 3. Bankruptcy or Receivership. Supermarkets General Holdings Corporation, the parent of Pathmark Stores, Inc., with more than 130 supermarkets in five Northeastern states, has filed a petition for relief under Chapter 11 of the Bankruptcy Code. The documents have been filed in U.S. Bankruptcy Court in Wilmington, Delaware. No trustee, receiver or fiscal agent has been appointed and Pathmark remains Debtor-in-Possession. The Company has filed a prepackaged plan of reorganization (the "Plan") and awaits order confirming the Plan to be entered by the Court. Item 5. Other Events. A copy of the press release, dated July 12, 2000, issued by the registrant is attached as an exhibit to this report and is incorporated herein by reference. 2 EXHIBIT INDEX Exhibit No. Description - ---------- -------------- 99.1 Press Release issued by the registrant, dated July 12, 2000. 3 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. SUPERMARKETS GENERAL HOLDINGS CORPORATION Date: July 21, 2000 /s/ Marc A. Strassler ------------------------------ Name: Marc A. Strassler Title: Senior Vice President and General Counsel 4
EX-99.1 2 0002.txt PRESS RELEASE EX-99.1 PRESS RELEASE EXHIBIT 99.1 PATHMARK STORES, INC., RECEIVES BONDHOLDER APPROVAL & FILES PREPACKAGED PLAN OF REORGANIZATION Company Receives $75 Million In DIP Financing and a Commitment for $600 Million In Exit Financing From The Chase Manhattan Bank Court Proceeding To Have No Impact on Operations; Trade Creditors Unimpaired CARTERET, NJ July 12, 2000 - Pathmark Stores, Inc., announced that over 99% of the dollar amount of bonds voted have agreed to accept its proposed prepackaged plan of reorganization (the "Plan"). Accordingly, as planned, the Company has filed a petition for relief under Chapter 11 of the Bankruptcy Code seeking to implement the Plan in the U.S. Bankruptcy Court for the District of Delaware. The Company said that it expects to complete the reorganization proceeding in 45 to 75 days. Under the Plan, trade creditors will not be impaired and will continue to be paid in the ordinary course of business. In addition, there will be no impact on Pathmark's employees or customers, as no stores will be closed or sold and no layoffs will be implemented. As previously announced, the agreement provides that upon consummation of Pathmark's reorganization, current holders of the Company's bond indebtedness will receive 100% of the common stock of the Company and warrants to purchase additional shares of common stock. The ownership percentage excludes shares issuable upon the exercise of options granted in connection with the Company's long term management incentive plan. Jim Donald, Chairman, President and Chief Executive Officer of Pathmark Stores, Inc., said, "The strong support of our bondholders for our prepackaged plan demonstrates their belief that Pathmark's operations are healthy, valuable and have great potential. With nearly $1 billion less debt, the newly reorganized Pathmark, trading as a public company, will be able to invest increased amounts in our business, enabling us to renovate and open new stores and compete more effectively." In support of the Plan, Pathmark has entered into an agreement with The Chase Manhattan Bank for a $75 million debtor-in-possession ("DIP") financing facility. Additionally, as previously announced, Chase has committed to provide $600 million of Exit Financing. The DIP financing, which is subject to Court approval, will enable Pathmark to continue normal operations during the restructuring proceedings. The Exit Financing will be used to repay Pathmark's existing credit facilities in full and provide approximately $200 million of liquidity for post-reorganization operations. Pathmark Stores, Inc., is a regional supermarket company currently operating 136 supermarkets primarily in the New York - New Jersey and Philadelphia metropolitan areas. The matters discussed herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially form future results expressed or implied by such forward-looking statements. For additional information about the Company and its various risk factors, see the Company's most recent Form 10-K dated January 29, 2000, as filed with the Securities and Exchange commission on April 28, 2000, and its form 10-Q dated April 29, 2000, as filed on June 13, 2000 and other documents as filed with the Securities and Exchange Commission. 2
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