UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01. | Other Events. |
Due to the economic impact of the COVID-19 pandemic on our business, Coca-Cola Consolidated, Inc. (the “Company,” “we” or “our”) has chosen to implement certain cost saving measures in the interest of our stockholders and to help support our financial position during this time of uncertainty. As a part of these cost saving measures, beginning on April 20, 2020, approximately 700 employees of the Company (representing less than 5% of our approximately 17,000 current employees) will be furloughed. We currently expect these furloughs to continue through June 21, 2020. During that time, furloughed employees will not receive salaries, but will continue to be provided with health care benefits, with the Company paying 100% of the premiums applicable to such employees. Because these furloughs are related to the effects of the COVID-19 pandemic on our business, we anticipate furloughed employees to be eligible for enhanced unemployment compensation, subject to applicable federal and state laws.
Forward-Looking Statements. This Current Report on Form 8-K contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically are identified by use of terms such as “will,” “should,” “plan,” “expect,” “anticipate,” and similar words. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The Company’s actual results could differ materially from those contained in forward-looking statements due to a number of factors, including the effects of the COVID19 pandemic and the statements under “Risk Factors” found in the Company’s Annual Report on Form 10-K on file with the SEC.
SIGNATURE
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.
| COCA-COLA CONSOLIDATED, INC. | ||||
| Date: April 17, 2020 |
By: |
/s/ E. Beauregarde Fisher III | ||
| E. Beauregarde Fisher III | ||||
| Executive Vice President, General Counsel and Secretary | ||||