UNITED STATES
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):
November 25, 2019
INVACARE CORPORATION
(Exact name of Registrant as specified in its charter)
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Ohio
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001-15103
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95-2680965
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(State or other Jurisdiction of
Incorporation or Organization)
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(Commission File Number)
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(I.R.S. Employer
Identification Number)
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One Invacare Way, Elyria, Ohio 44035
(Address of principal executive offices, including zip code)
(440) 329-6000
(Registrant’s telephone number, including area code)
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(Former name, former address and former fiscal year, if changed since last report)
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 (see General Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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 §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ¨
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. ¨
Securities registered pursuant to Section 12(b) of the Exchange Act:
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Title of each class
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Trading Symbol
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Name of exchange on which registered
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Common Shares, without par value
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IVC
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New York Stock Exchange
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Item 2.05. Costs Associated with Exit or Disposal Activities.
On November 25, 2019, Invacare Corporation (the “Company”) announced the decision to close its Porta Westfalica, Germany production and distribution facility, effective at the end of 2020. The manufacturing and distribution activities currently conducted at the Porta Westfalica facility will be performed at other Company locations or by third parties. This consolidation is expected to impact approximately 240 associates in Germany. The Company expects to incur pre-tax cash restructuring charges in the Europe segment, primarily relating to severance and transition assistance, as well as other closure-related costs. The terms of the severance and transition assistance packages to be provided to the affected employees are subject to applicable works council and consultative processes. As a result, the Company is unable to estimate the amount and timing of the restructuring charges. Once determined, the Company will file an amendment to this Current Report on Form 8-K to provide an estimate and timing of the restructuring charges.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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INVACARE CORPORATION
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(Registrant)
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Date: November 25, 2019
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By:
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/s/ Kathleen P. Leneghan
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Name:
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Kathleen P. Leneghan
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Title:
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Senior Vice President and Chief Financial Officer
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