The struggling Quaker Fabric Corp. in Fall River owes $34.2 million to at least four lenders, including $14.7 million to Bank of America and others, according to a federal filing the company made late Tuesday.

On July 2, the 62-year-old company announced that it was failing to repay its debts and that there was “significant uncertainty” about its ability to continue operations.

The next day, Bank of America and other lenders formally declared the company in default, according to the filing with the U.S. Securities and Exchange Commission. In letters to Quaker, the lenders argued that the July 2 announcement had “constituted an admission of the company’s inability to pay its debts.”

That raised the interest rate on the loans by 2 percentage points, and gave the lenders the right to demand immediate repayment and refuse further loan requests, according to the filing.

Quaker, one of the last textile giants in New England, employs 900 people, including at least 62 Rhode Island residents.

The July 2 announcement was made as employees began their annual summer vacation. The two-week factory shutdown is scheduled to end Monday, but it now appears the plant might never reopen.

More than 700 employees attended a meeting Monday at which they were encouraged to file for unemployment insurance with the Massachusetts Department of Labor and Workforce Development.

At the meeting in Fall River, Cynthia L. Gordan, vice president and general counsel at Quaker, told employees that they would be given an opportunity to collect personal belongings.

The company’s stock was battered by the announcement, and it has not recovered. It closed yesterday at 10 cents a share, after trading as high as $1.70 a year ago.

Quaker’s prospects appeared worse in light of its filing on Tuesday.

In the filing, the company announced that it had fired three top executives: James A. Dulude, vice president of manufacturing; Thomas Muzekari, vice president of sales; and Michael E. Costa, the principal accounting officer.

Quaker president and chief executive officer Larry A. Liebenow, treasurer Paul J. Kelly and Gordan did not respond to requests for comment yesterday.

The upholstery fabric maker said it could take “several weeks” to assess the value of all company assets, according to the filing.

“There’s very little that probably can be done at this point to salvage things,” said Linnea Walsh, spokeswoman for the Massachusetts Department of Labor and Workforce Development. “We are helping impacted employees file for unemployment benefits.”

More than 450 employees on Tuesday visited the Fall River Career Center, a state-supported job-training organization that has added staff and translators to cope with the influx, Walsh said.

On July 20, the center will host a special job fair at Bristol Community College for Quaker workers, many of whom speak only Portuguese and have worked at Quaker for decades.

The company has filed a petition with the U.S. Department of Labor to give affected employees access to Trade Adjustment Assistance, a federal program that aids U.S. workers hurt by international trade, Walsh said. The company has been buffeted by low-priced imports from China, resulting in steep revenue declines in the past three years, she said.

In its SEC filing, Quaker said it secured two term loans totaling $24.6 million last November, using GB Merchants Partners LLC as its agent. Quaker put up “all of the company’s assets” as collateral.

Quaker says it owes $19.5 million under the term loans. Susan Cronin, a spokeswoman for GB Merchants, a private investment firm in Boston, was not available for comment yesterday.

Last November, Quaker signed a $25-million revolving credit agreement with Bank of America and two other lenders, according to the filing. That loan was also secured by all company assets, including real estate in Fall River and machinery.

Andrew Schwartz, a spokesman for Bank of America Business Capital, declined to comment on the loan yesterday, citing a confidentiality agreement.

Last June, Bank of America announced that it had approved a $70-million asset-backed loan to Quaker to help the company refinance existing debt and provide working capital.

The bank also provided cash management services, according to a statement at the time. (The relationship between the June loan and the $25-million loan approved in November is not clear.)

“We were impressed with management’s ongoing efforts to reduce operating costs and upgrade the company’s infrastructure to improve productivity and product quality,” Joyce White, president of Bank of America Business Capital, said in a statement last summer. “The new asset-based facility should provide the financial flexibility to focus on growing the company’s business both domestically and abroad.”

bgedan@projo.com