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): February 24, 2002
SUPREMA SPECIALTIES, INC.
(Exact name of registrant as specified in its charter)
New York 0-19263 11-2662625
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
510 East 35th Street, Paterson, New Jersey 07543
(Address of Principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (973) 684-2900
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Former name or former address, if changed since last report
Item 5. Other Events.
As stated in the press release of Suprema Specialties, Inc. ("Suprema")
dated February 24, 2002, Suprema, along with its operating subsidiaries, has
filed a voluntary petition for reorganization under Chapter 11 of the U. S.
Bankruptcy Code in the U.S. Bankruptcy Court in the Southern District of New
York. A copy of Suprema's press release is attached to this Current Report on
Form 8-K as Exhibit 99.1.
As noted in the foregoing press release, Suprema has been notified by the
Nasdaq Stock Market, Inc. that its common stock will be delisted from Nasdaq at
the opening of business on March 1, 2002.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a)-(b) Not Applicable
(c). Exhibits.
99.1. Press release dated February 24, 2002.
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.
SUPREMA SPECIALTIES, INC.
By: /s/ Douglas Hopkins
---------------------------------
S. Douglas Hopkins
Chief Executive Officer
Date: February 26, 2002
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Exhibit 99.1
[GRAPHIC OMITTED]
FOR IMMEDIATE RELEASE: For More Information, Contact:
Douglas Hopkins, Chief Executive Officer (973)684-2900
Kevin McGrath, Investor Relations (212) 245-8800
Jim Drewitz, Public Relations (972) 355-6070
SUPREMA SPECIALTIES, INC. FILES VOLUNTARY CHAPTER 11 PETITION
- Hires Nightingale & Associates LLC to assist in the Reorganization
- Mark Cocchiola relinquishes Officer Position-to Remain as Chairman of
the Board and Consultant
- Independent Auditor's Resign
- Common Stock to be Delisted from Nasdaq
Paterson, NJ, February 24, 2002 - Suprema Specialties, Inc. (Nasdaq NMS: CHEZ)
announced that it, along with its three operating subsidiaries, has filed a
voluntary petition with the U.S. Bankruptcy Court in the Southern District of
New York for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
Suprema has hired the firm of Nightingale & Associates LLC to assist Suprema
with its reorganization. Douglas Hopkins of Nightingale has been appointed as
Suprema's Chief Executive Officer and Chief Restructuring Officer. Mark
Cocchiola, Suprema's former Chief Executive Officer and President, will remain
as Chairman of the Board and a full-time consultant to Suprema. Suprema is in
discussions with its senior secured bank lenders in an effort to assure ongoing
funding for its operations during the reorganization proceedings. Suprema also
announced that its independent auditors have resigned and that it has been
advised by The Nasdaq Stock Market, Inc. that its common stock will be delisted
from Nasdaq at the opening of business on March 1, 2002.
About Suprema Specialties, Inc.
Suprema Specialties, Inc. manufactures, shreds, grates and markets gourmet all
natural Italian variety cheeses under the Suprema Di Avellino(R) brand name as
well as under private label. Suprema's product lines consist primarily of
domestic mozzarella, ricotta and provolone cheeses, grated and shredded
parmesan, romano cheeses, and imported parmesan and pecorino romano cheeses,
including "lite" versions of certain of these products containing less fat, and
fewer calories. The Company operates facilities in New Jersey, New York,
California and Idaho. The Company supplies cheeses to foodservice, retail, and
food manufacturing companies.
For Further Information About Suprema Specialties, Inc., Please visit:
www.supremachez.com
The information provided in this Press Release contains forward-looking
statements that involve risks and uncertainties more fully set forth in the
Company's filing with the Securities and Exchange Commission. Such risks
include, among others, the impact of the Chapter 11 filing on Suprema's
business, including the potential loss of customers, employees and suppliers,
the inability of Suprema to obtain additional financing in sufficient amounts
and on acceptable terms, or at all, and the inability of Suprema to use cash
collected in its business. The Private Securities Litigation Reform Act of 1995
provides a "safe harbor" for forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date the statement, was made. Statements made in this Press
Release that are not historical facts are forward looking statements that are
subject to the safe harbor created by the Private Securities Litigation Reform
Act of 1995.
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