<SEC-DOCUMENT>0001157523-18-001882.txt : 20180829
<SEC-HEADER>0001157523-18-001882.hdr.sgml : 20180829
<ACCEPTANCE-DATETIME>20180829160258
ACCESSION NUMBER:		0001157523-18-001882
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180613
ITEM INFORMATION:		Cost Associated with Exit or Disposal Activities
FILED AS OF DATE:		20180829
DATE AS OF CHANGE:		20180829

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CULP INC
		CENTRAL INDEX KEY:			0000723603
		STANDARD INDUSTRIAL CLASSIFICATION:	BROADWOVEN FABRIC MILLS, COTTON [2211]
		IRS NUMBER:				561001967
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			0429

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12597
		FILM NUMBER:		181044370

	BUSINESS ADDRESS:	
		STREET 1:		1823 EASTCHESTER DRIVE
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
		BUSINESS PHONE:		3368895161

	MAIL ADDRESS:	
		STREET 1:		P O BOX 2686
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>a51859462.htm
<DESCRIPTION>CULP, INC. 8-K/A
<TEXT>
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      <br>
      <font style="font-size: 12pt"><b>UNITED STATES</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>WASHINGTON,
      DC&#160;&#160;20549</b></font><br><br><font style="font-family: Times New Roman; font-size: 16pt"><b>FORM
      8-K/A</b></font><br><font style="font-size: 11pt"><b>(Amendment No. 1)</b></font>
    </p>
    <p style="text-align: center">
      <br>
      <br>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT PURSUANT</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>TO
      SECTION 13 OR 15(d) OF THE</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>SECURITIES
      EXCHANGE ACT OF 1934</b></font><br><br><u><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of earliest event reported)&#160;&#160;June 13, 2018</font></u><u><br></u><br><u><font style="font-family: Times New Roman; font-size: 18pt"><b>Culp,
      Inc.</b></font></u><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      Name of Registrant as Specified in its Charter)</font><br><br><br>
    </p>
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            North Carolina
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          &#160;
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          <p style="margin-top: 0px; margin-bottom: 0px">
            1-12597
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          &#160;
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          <p style="margin-top: 0px; margin-bottom: 0px">
            56-1001967
          </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or Other Jurisdiction
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          <p style="margin-top: 0px; margin-bottom: 0px">
            of Incorporation)
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        <td style="width: 5%">

        </td>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
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          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
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        <td style="width: 5%">

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          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
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          &#160;
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        <td style="padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; width: 34%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            1823 Eastchester Drive
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            High Point, North Carolina&#160;&#160;27265
          </p>
        </td>
        <td style="width: 33%">

        </td>
      </tr>
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        <td style="width: 33%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 34%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of Principal Executive Offices)</font>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Zip
            Code)</font>
          </p>
        </td>
        <td style="width: 33%">

        </td>
      </tr>
    </table>
    </div>
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    <table style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 25%">
          &#160;
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        <td style="padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; width: 50%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (336) 889-5161
          </p>
        </td>
        <td style="width: 25%">

        </td>
      </tr>
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        <td style="width: 25%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 50%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Registrant&#8217;s
            Telephone Number, Including Area Code)</font>
          </p>
        </td>
        <td style="width: 25%">

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
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          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; width: 56%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Not Applicable
          </p>
        </td>
        <td style="width: 22%">

        </td>
      </tr>
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        <td style="width: 22%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 56%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Former name or address, if changed from last report)
          </p>
        </td>
        <td style="width: 22%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
      &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
      &#167;240.12b-2).
    </p>
    <p>
      Emerging growth company &#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. &#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
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        <div style="text-align: left">

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        <div style="text-align: center">

        </div>
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          <hr style="height: 1.5pt; color: black">

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    <p>

    </p>
    <p style="text-align: center">
      <b>Explanatory Note</b>
    </p>
    <p style="text-align: justify">
      On June 13, 2018, Culp, Inc. (the &#8220;Company&#8221;) filed a Current Report on
      Form 8-K disclosing its decision to close its manufacturing facility
      located in Anderson, South Carolina.&#160;&#160;At the time of the filing of the
      Form 8-K, the Company was unable to estimate the non-cash charge
      associated with the write-down of inventory related to the closure of
      the Anderson facility.&#160;&#160;This Form 8-K/A amends the June 13, 2018, Form
      8-K to include an estimate of that charge.&#160;&#160;Except as described below,
      all other information in the June 13, 2018, Form 8-K remains unchanged.
    </p>
    <p style="text-align: justify">
      <b>Item 2.05 &#8211; Costs Associated with Exit or Disposal Activities.</b>
    </p>
    <p style="text-align: justify">
      The Company has now determined that it will incur a pre-tax non-cash
      charge of approximately $1.6 million associated with the write-down of
      inventory related to the previously-announced closure of its
      manufacturing facility in Anderson, South Carolina.&#160;&#160;This charge will be
      reflected in the Company&#8217;s results for the first quarter of fiscal 2019,
      and represents the Company&#8217;s best estimate of the full amount of
      inventory write-downs that will be incurred in connection with the
      Anderson closure.&#160;&#160;If this estimate changes in the future in a material
      way, an adjustment will be reflected in future financial results.<br><br><br>
    </p>
    <p style="text-align: justify">

    </p>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="text-align: left">
      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.<br>
    </p>
    <p style="text-align: left">

    </p>
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          &#160;
        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            CULP, INC.
          </p>
        </td>
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        <td style="width: 6%">

        </td>
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        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Registrant)
          </p>
        </td>
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        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>/s/ Kenneth R. Bowling</u>
          </p>
        </td>
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        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Financial Officer
          </p>
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (principal financial officer)
          </p>
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Dated: &#160;August 29, 2018</u>
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt">2</font>
    </p>
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