SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): January 22, 2001
CONVERSE INC.
(Exact name of registrant as specified in its charter)
Delaware 1-13430 04-1419731
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
ONE FORDHAM ROAD 01864
NORTH READING, MASSACHUSETTS (Zip Code)
(Address of principal executive offices)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (978) 664-1100
This Current Report on Form 8-K is filed by Converse Inc., a Delaware
corporation (the "Company"), in connection with matters described herein.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
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On January 22, 2001 (the "Petition Date"), the Company filed a voluntary
petition to reorganize as a debtor in possession under chapter 11 of title 11 of
the United States Code. The case is currently pending in the U.S. District Court
for the District of Delaware, Case # 01-0223, before Chief Judge Sue L. Robinson
(the "Court").
On the Petition Date, the Court approved on an interim basis the Company's
motion to authorize the Company to obtain post-petition financing from a lender
group for which Bankers Trust Company, an affiliate of Deutsche Banc Alex.
Brown, acts as agent. The Court also entered orders approving various "first
day" motions and applications including orders authorizing payment of: (i)
certain pre-petition employee wages, salaries and related expenses; (ii) certain
pre-petition customer obligations; and (iii) certain pre-petition claims of
critical vendors.
In a press release on the Petition Date, the Company described, among other
things, its plan to cease its manufacturing operations and transition to a
licensing-only business model. The press release is attached to this report as
Exhibit 99.1
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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(c) EXHIBITS
10.1 Postpetition Credit Agreement, dated as of January 22, 2001 among the
Company, certain lenders and Bankers Trust Company, an affiliate of
Deutsche Banc Alex. Brown, as agent for the lenders.
99.1 Press release dated January 22, 2001.
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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, in North Reading, Massachusetts on
January 30, 2001.
CONVERSE INC.
By: /s/ James E. Lawlor
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James E. Lawlor
Senior Vice President and
Chief Financial Officer
3
INDEX TO EXHIBITS
Exhibit Page
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10.1 Postpetition Credit Agreement, dated as of January 22,
2001 among the Company, certain lenders and Bankers
Trust Company, an affiliate of Deutsche Banc Alex. Brown,
as agent for the lenders. 5
99.1 Press release dated January 22, 2001. 148