{"schema_version":"secwatch.filing_event.v1","accession":"0001564590-22-015436","form_type":"8-K","ticker":"CULP","cik":"0000723603","company_name":"CULP INC","filed_at":"2022-04-25T23:59:59+00:00","discovered_at":"2026-05-14T18:04:03.479449+00:00","generated_at":"2026-06-26T05:10:45.524487+00:00","sec_items":["7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Culp revises Q4 FY2022 to operating loss of $6.5M-$7.5M; signs term sheet for $40M secured credit facility","bullets":["Q4 net sales down significantly vs Q4 FY2021; expected operating loss $(6.5)M-$(7.5)M.","China facilities closed since April 1 due to COVID restrictions; expected to remain shut through April.","Mattress fabric sales declined materially in March/April as customers reduced inventory due to slowing retail demand.","Signed non-binding term sheet for $40M secured revolving credit facility; replaces existing unsecured facility expiring Aug 2022.","Estimated $32M borrowing availability upon closing; expects $10M cash, no borrowings at Q4 end."],"urls":{"canonical":"https://secwatch.observer/filing/0001564590-22-015436","json":"https://secwatch.observer/filing/0001564590-22-015436.json","markdown":"https://secwatch.observer/filing/0001564590-22-015436.md","text":"https://secwatch.observer/filing/0001564590-22-015436.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723603/000156459022015436/0001564590-22-015436-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723603/000156459022015436/culp-8k_20220425.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-26T05:10:45.524487+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}