---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-000209"
form_type: "8-K"
ticker: "CRWS"
cik: "0000025895"
company_name: "CROWN CRAFTS INC"
filed_at: "2025-01-03T23:59:59+00:00"
generated_at: "2026-05-28T16:16:28.339719+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Crown Crafts obtains waiver of fixed charge coverage ratio breaches; modifies credit line excess availability to $7M

## Summary
- CIT waives non-compliance with fixed charge coverage ratio for fiscal quarters ended Sep 29, 2024 and Dec 29, 2024.
- Excess Availability requirement reduced to $7M from 50% of term loan outstanding; CIT may reverse on notice.
- Letter agreement dated Jan 2, 2025 amends 2006 Financing Agreement between Crown Crafts and CIT Commercial Services.
- Company avoided default on two quarters of covenant breaches; financial flexibility improved but reflects strain.

## SEC filing metadata
- accession: 0001437749-25-000209
- form_type: 8-K
- ticker: CRWS
- cik: 0000025895
- company_name: CROWN CRAFTS INC
- filed_at: 2025-01-03T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/25895/000143774925000209/0001437749-25-000209-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/25895/000143774925000209/crws20250103_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-000209
- JSON: https://secwatch.observer/filing/0001437749-25-000209.json
- Plain text: https://secwatch.observer/filing/0001437749-25-000209.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.