Item 8.01 Other Events Milestone Extensions
As previously reported, on
As reported in the Company's Quarterly Report on Form 10-Q filed on
Filing of Proposed Plan and Disclosure Statement
On
This Current Report on Form 8-K is not a solicitation to accept or reject the
proposed Plan. Any such solicitation will be made pursuant to and in accordance
with the Disclosure Statement and applicable law, including orders of the
Filings with the
Cautionary Note on Forward-Looking Statements
This Current Report on Form 8-K includes forward-looking statements as defined
in Section 27A of the Securities Act and Section 21E of the Securities Exchange
Act of 1934, as amended. Such statements reflect only the Company's best
assessment at this time and are indicated by words or phrases such as "goal,"
"plan," "expects," "believes," "will," "estimates," "anticipates," or similar
phrases. These forward-looking statements include all matters that are not
historical facts. They include statements regarding, among other things, the
Company's intentions, beliefs or current expectations concerning the results of
any vote on the Company's Plan. By their nature, forward-looking statements
involve risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Investors are cautioned
that forward-looking statements are not guarantees of future performance and
that our actual results of operations, financial condition and liquidity, and
the development of the industry in which we operate, may differ materially from
these statements. Investors should not place undue reliance on such statements.
Important factors potentially affecting performance include but are not limited
to risks and uncertainties related to the ability to confirm and consummate
the Plan; risks attendant to the bankruptcy process, including our ability to
obtain court approvals with respect to motions filed in the Chapter 11 Cases,
the outcomes of court rulings and the Chapter 11 Cases in general and the length
of time that we may be required to operate in bankruptcy; the effectiveness of
the overall restructuring activities pursuant to the Chapter 11 Cases and any
additional strategies that we may employ to address our liquidity and capital
resources; the actions and decisions of creditors, regulators and other third
parties that have an interest in the Chapter 11 Cases, which may interfere with
the ability to confirm and consummate the Plan; restrictions on us due to the
terms of the proposed DIP Credit Agreements and restrictions imposed by the
applicable courts; potential delays in the Chapter 11 Cases due to the effects
of COVID-19; the effects of the Chapter 11 Cases on the Company and on the
interests of various constituents, including holders of the Company's common
stock; other litigation and inherent risks involved in a bankruptcy process;
risks related to the trading of the Company's securities on the OTC Pink
marketplace; the impact of COVID-19 on the global economy, our associates, our
customers and our operations, our high level of indebtedness and the
availability and cost of credit; high interest rates that increase the Company's
borrowing costs or volatility in the financial markets that could constrain
liquidity and credit availability; the inability to achieve savings and profit
improvements at targeted levels in the Company's operations or within the
intended time periods; increased competition from foreign suppliers endeavoring
to sell glass tableware, ceramic dinnerware and metalware in our core markets;
global economic conditions and the related impact on consumer spending levels;
major slowdowns or changes in trends in the retail, travel, restaurant and bar
or entertainment industries, and in the retail and foodservice channels of
distribution generally, that impact demand for our products; inability to meet
the demand for new products; material restructuring charges related to
involuntary employee terminations, facility sales or closures, or other various
restructuring activities; significant increases in per-unit costs for natural
gas, electricity, freight, corrugated packaging, and other purchased materials;
our ability to borrow under the DIP Credit Agreements; protracted work stoppages
related to collective bargaining agreements; increased pension expense
associated with lower returns on pension investments and increased pension
obligations; increased tax expense resulting from changes to tax laws,
regulations and evolving interpretations thereof; devaluations and other major
currency fluctuations relative to the
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