-----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, JCkpZT//OG4+nk8Tw7ZFuVTOyGQdu8cxtcn8Q5r3qzh5t04S/7IbJlyLj4lPUicj qWOYVcJQKQzBqgpcnysgng== 0000898430-00-001312.txt : 20000420 0000898430-00-001312.hdr.sgml : 20000420 ACCESSION NUMBER: 0000898430-00-001312 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000406 ITEM INFORMATION: FILED AS OF DATE: 20000419 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MATTHEWS STUDIO EQUIPMENT GROUP CENTRAL INDEX KEY: 0000855575 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] IRS NUMBER: 951447751 STATE OF INCORPORATION: CA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-18102 FILM NUMBER: 604624 BUSINESS ADDRESS: STREET 1: 3111 N KENWOOD ST CITY: BURBANK STATE: CA ZIP: 91505 BUSINESS PHONE: 8185255200 MAIL ADDRESS: STREET 1: 2405 EMPIRE AVENUE CITY: BURBANK STATE: CA ZIP: 91504 8-K 1 FORM 8-K 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) April 6, 2000 MATTHEWS STUDIO EQUIPMENT GROUP ------------------------------------- (Exact name of registrant as specified in its charter) California ---------------------------------------------- (State or other jurisdiction of incorporation)
0-18102 95-1447751 ----------------------------------------------------------------------------- (Commission file number) (I.R.S. Employer Identification Number) 3111 North Kenwood Street, Burbank, CA 91505 ----------------------------------------------------------------- (Address of principal executive office) (Zip Code) (818) 525-5200 ---------------------------------------------------- (Registrant's telephone number, including area code) N/A ---------------------------------------------------------------------------------- (Former name, former address and former fiscal year, if changed since last report)
Item 3. Bankruptcy or Receivership. -------------------------- On April 6, 2000, Matthews Studio Equipment Group ("Matthews") and its -------- subsidiaries filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The filing was made in the U.S. Bankruptcy Court in the San Fernando Valley division of the Central District of California. The case number assigned to Matthews is SV 00-13471 KL. Matthews remains in possession of its assets and properties, and its business and affairs will continue to be managed by Matthews' directors and officers, subject in each case to the supervision of the Bankruptcy Court. A copy of Matthews' press release regarding its Chapter 11 filing is attached as an exhibit. -2- (2)(c) Exhibits EXHIBIT INDEX Exhibit Document Description - ------- -------------------- 99.9 Press Release Regarding the Chapter 11 Filing by Matthews Studio Equipment Group and Its Subsidiaries. -3- SIGNATURES Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. MATTHEWS STUDIO EQUIPMENT GROUP (Registrant) Date: April 19, 2000 By: /s/ Carlos D. DeMattos -------------------------------------- Carlos D. DeMattos Chairman and Chief Executive Officer -4- EX-99.9 2 PRESS RELEASE EXHIBIT 99.9 For release: Friday April 7, 6:00 am Eastern Time Company Press Release Matthews Studio Group to Restructure Under Chapter 11 Burbank, Ca., April 7 - Matthews Studio Equipment Group. (Nasdaq: MATT - news), an international single-source provider of professional equipment to the entertainment industry today announced that it has filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Matthews and its subsidiaries were included in the filings. The filings were made in the U.S. Bankruptcy Court in the San Fernando Valley division of the Central District of California. Matthews has retained the services of Klee, Tuchin, Bogdanoff & Stern, LLP to represent the Company as reorganization counsel. The Company's outside corporate counsel, Whitman Breed Abbot & Morgan, LLP will continue to represent the company. In addition, Matthews has hired Crossroads, LLC as an advisor to validate the new business plan, operational improvements and any restructuring of the company's debt and other liabilities. Crossroads, based in Newport Beach, CA, is a national turnaround management firm that assists middle market and Fortune 100 companies to improve corporate value with interim management, financial advisory, operational improvement, and information technology services. Carlos D. DeMattos, Chairman and Chief Executive Officer, stated, "Matthews Studio Group has strong cash flow performance. We have spent the past several months attempting to come up with a proposal that would address the Company's challenges outside of a court proceeding. Ultimately, the time required to complete a restructuring transaction and the uncertain cost of closing unprofitable locations were too great to overcome." "While unfortunate, this proceeding will bring order to a disorderly process. It should have little or no impact on our customers, our vendors, or our employees. We intend to continue to compete vigorously in all of our markets and to work diligently to meet the needs of our customers." Mr. DeMattos continued, "Our personal goal is to emerge from reorganization as quickly as possible with a stronger, more efficient and profitable company." Certain of Matthews' subsidiaries were included in the filings as a result of last minute demands by the Company's lenders to which the Company was forced to accede. Matthews Studio Group supplies traditional lighting, grip, transportation, generators, camera equipment, professional video and audio equipment, automated lighting and complete theatrical equipment and supplies to entertainment producers through its worldwide distribution network. This press release includes certain forward-looking statements in reliance on the "safe harbor" provisions of The Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are subject to a number of risks and uncertainties, including but not limited to the factors identified below. Actual results may differ materially from those anticipated in any such forward-looking statements. The Company's liquidity, capital resources, and results of operations may be affected from time to time by a number of factors and risks, including, but not limited to, the factors described in the Company's filings with the Securities and Exchange Commission; the ability of the Company to: arrange DIP financing; operate successfully under a Chapter 11 proceeding; obtain shipments and negotiate terms with vendors and service providers for current orders; fund and execute a new operating plan for the Company; attract and retain key executives and associates; meet competitive pressures which may affect the nature and viability of the Company's business strategy; generate cash flow; attract and retain customers; manage its business notwithstanding potential adverse publicity. Contact: Matthews Studio Group (818) 525-5200 Carlos DeMattos, Anil Sharma -2- -----END PRIVACY-ENHANCED MESSAGE-----