8-K 1 d8k.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 THE SECURITIES EXCHANGE ACT OF 1934 -------------------------------------------------------------------------------- Date of Report (Date of earliest event reported): February 27, 2002 ----------------- PILLOWTEX CORPORATION --------------------- (Exact Name of Registrant as Specified in Charter) Texas 1-11756 75-2147728 ----------------------- ---------------------- ------------------ (State or Other Jurisdiction (Commission File Number) (I.R.S. Employer of Incorporation ) Identification No.) One Lake Circle Drive, Kannapolis, North Carolina 28081 ------------------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: 704-939-2000 ------------ Not Applicable --------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) ================================================================================ Item 5. Other Events. On March 1, 2002, Pillowtex Corporation (the "Company"), together with certain of its subsidiaries (collectively with the Company, the "Debtors"), filed with the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"): (a) a Second Amended Joint Plan of Reorganization of Pillowtex Corporation and Its Debtor Subsidiaries (the "Plan") and (b) a related Disclosure Statement (the "Disclosure Statement"). The Disclosure Statement was approved by the Bankruptcy Court on February 27, 2002, and, consistent with the schedule submitted to the Bankruptcy Court, the Disclosure Statement will be mailed to parties in interest no later than March 11, 2002. A copy of a press release announcing the Bankruptcy Court's approval of Disclosure Statement is attached hereto as Exhibit 99.1 and incorporated herein by reference. Copies of the Plan and Disclosure Statement as filed with the Bankruptcy Court are attached hereto as Exhibits 99.2 and 99.3, respectively. The Disclosure Statement contains certain projections (the "Projections") of the Debtors' operating profit, free cash flow and certain other items for the fiscal years 2002 through 2005. The Debtors do not, as a matter of course, publish their business plans, budgets or strategies or make external projections or forecasts of their anticipated financial position or results of operations. The Company has filed the Disclosure Statement as an exhibit hereto because such Disclosure Statement has been filed with the Bankruptcy Court in connection with the Debtors' reorganization proceedings. The Company refers to the limitations and qualifications included in the Disclosure Statement, including without limitation those set forth under the captions "Reorganized Pillowtex--Projected Financial Information--Introduction," "Reorganized Pillowtex--Projected Financial Information--Projections" and "Risk Factors--Projections Are Inherently Uncertain" with respect to the Projections. In addition, the Company notes that all information contained in the Disclosure Statement is subject to change, whether as a result of further amendments to the Plan, as a result of the actions of third parties or otherwise. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a) Financial Statements of Businesses Acquired: Not Applicable. (b) Pro Forma Financial Information: Not Applicable. (c) Exhibits: Exhibit Number Exhibit ------ ------- 99.1 Press release dated February 28, 2002. 99.2 Second Amended Joint Plan of Reorganization of Pillowtex Corporation and Its Debtor Subsidiaries. 99.3 Disclosure Statement Pursuant to Section 1125 of the Bankruptcy Code for the Second Amended Joint Plan of Reorganization of Pillowtex Corporation and Its Debtor Subsidiaries. 2 SIGNATURE 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. PILLOWTEX CORPORATION By: /s/ John F. Sterling ------------------------------------------- Name: John F. Sterling Title: Vice President and General Counsel Date: March 4, 2002 3 EXHIBIT INDEX Exhibit No. Exhibit Description ----------- ------------------- 99.1 Press release dated February 28, 2002. 99.2 Second Amended Joint Plan of Reorganization of Pillowtex Corporation and Its Debtor Subsidiaries. 99.3 Disclosure Statement Pursuant to Section 1125 of the Bankruptcy Code for the Second Amended Joint Plan of Reorganization of Pillowtex Corporation and Its Debtor Subsidiaries. 4