-----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, En4V8S1DUHSQMHpn8eb3EktNGdM4zUckkf5e3uNnXDKcfR92qH/PCGNn7OWm8veG dO1kWU0q0erNExyCS+5YYw== 0000890566-99-000759.txt : 19990615 0000890566-99-000759.hdr.sgml : 19990615 ACCESSION NUMBER: 0000890566-99-000759 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990607 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990611 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BRAZOS SPORTSWEAR INC /DE/ CENTRAL INDEX KEY: 0000856711 STANDARD INDUSTRIAL CLASSIFICATION: WOMEN'S, MISSES', AND JUNIORS OUTERWEAR [2330] IRS NUMBER: 911770931 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-18054 FILM NUMBER: 99644794 BUSINESS ADDRESS: STREET 1: 4101 FOUNDERS BLVD CITY: CINCINNATI STATE: OH ZIP: 45103 BUSINESS PHONE: 5137533400 MAIL ADDRESS: STREET 1: 4101 FOUNDERS BLVD CITY: CINCINNATI STATE: OH ZIP: 45103 FORMER COMPANY: FORMER CONFORMED NAME: SUN SPORTSWEAR INC DATE OF NAME CHANGE: 19920703 8-K 1 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): June 7, 1999 BRAZOS SPORTSWEAR, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) DELAWARE 0-18054 91-1770931 (STATE OF INCORPORATION) (COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.) 3860 VIRGINIA AVENUE CINCINNATI, OHIO 45227 (ADDRESS OF REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES) (513) 719-0244 (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) 4101 FOUNDERS BOULEVARD CINCINNATI, OHIO 45103-2553 (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT) ITEM 5. OTHER EVENTS On June 7, 1999, the Company announced that, among other things, it had completed the sale of its Red Oak Sportswear division. A copy of the press release with respect to the foregoing is attached hereto as Exhibit 99.1 and is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS EXHIBIT NO. EXHIBIT 99.1 Press Release of Brazos Sportswear, Inc. dated June 7, 1999. 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, thereunto duly authorized. DATED this 11th day of June, 1999. BRAZOS SPORTSWEAR, INC. By: /S/ F. CLAYTON CHAMBERS F. Clayton Chambers, Chief Executive Officer EX-99.1 2 EXHIBIT 99.1 Contact: Sitrick And Company Ann Julsen Brenda Adrian (310) 788-2850 FOR IMMEDIATE RELEASE BRAZOS SPORTSWEAR COMPLETES SALE OF RED OAK SPORTSWEAR TO RED OAK ACQUISITION, INC. BRAZOS TO AUCTION EQUIPMENT, INVENTORY AND OTHER ASSETS OF CINCINNATI MANUFACTURING FACILITY ON JUNE 8 CINCINNATI, OHIO --JUNE 7, 1999 --Brazos Sportswear, Inc. (OTC BB: BRZS) announced today it has completed the sale of its Red Oak Sportswear division located in College Station, Texas to Red Oak Acquisition, Inc., headed by Red Oak founder George Warny. Red Oak, a manufacturer of screen-printed sportswear to major retailers, was founded in 1984 and acquired by Brazos Sportswear in 1989. AThe acquisition of Red Oak by founder George Warny is in the best interests of all of Red Oak's constituents --its customers, employees and vendors,@ said Clayton Chambers, Brazos' interim chief executive officer. AThe sale of Red Oak Sportswear, combined with our sale last month of the Gulf Coast Sportswear division, are key steps in our efforts to maximize creditor recoveries,@ Mr. Chambers said. He noted that the proceeds of the Red Oak sale, like those of the sale of Gulf Coast last month, will be used to reduce the outstanding balance under Brazos' debtor-in-possession (DIP) loan facility. Brazos announced on May 19, 1999 that it will sell substantially all of the assets of its business units through competitive bidding procedures under Section 363 of the U.S. Bankruptcy Code. Offers for the Company's Morning Sun, Plymouth Mills, Brazos Embroidery, Sunrise Turquoise and Crable divisions are to be received by noon Eastern time on June 8, 1999 at the New York offices of BT Alex. Brown Incorporated, the Company's exclusive advisor with respect to the sale process. As previously announced, Brazos is scheduled to sell certain of the Company's Cincinnati assets at a public auction at 10 a.m. on June 8 at its Batavia, Ohio facility at 4101 Founders Boulevard. The auction is open to the public and will be conducted by Continental Plants. Items to be auctioned include embroidery and screen printing machines, office furniture and equipment, office cubicles, computers, personal computers (PCS), forklifts, vans and other miscellaneous assets. Brazos Sportswear, Inc., designs, produces and markets moderately priced sportswear. Headquartered in Cincinnati, Ohio, it operates manufacturing, distribution and sales facilities in 12 states. The Company and its subsidiaries filed Chapter 11 petitions in the U.S. Bankruptcy Court for the District of Delaware in Wilmington on January 21, 1999. THIS PRESS RELEASE MAY INCLUDE STATEMENTS THAT CONSTITUTE AFORWARD-LOOKING@ STATEMENTS. THESE STATEMENTS ARE MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FORWARD-LOOKING STATEMENTS. FACTORS THAT WOULD CAUSE OR CONTRIBUTE TO SUCH DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO, CONTINUED ACCEPTANCE OF THE COMPANY'S PRODUCTS IN THE MARKETPLACE, COMPETITIVE FACTORS, DEPENDENCE UPON THIRD-PARTY VENDORS, AND OTHER RISKS DETAILED IN THE COMPANY'S PERIODIC REPORT FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. BY MAKING THESE FORWARD-LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES AFTER THE DATE OF THIS RELEASE. # # # -----END PRIVACY-ENHANCED MESSAGE-----