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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
</FONT><FONT STYLE="font-size: 10pt">Washington, D.C. 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt; text-underline-style: none">FORM
8-K</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-underline-style: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&nbsp;13 OR 15(d)&nbsp;of
the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>July 3, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-underline-style: none"><B>Commission
File Number: <FONT STYLE="font-size: 10pt">333-173702</FONT></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Excel Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant
as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%; font-weight: bold; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="width: 2%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; font-weight: bold; text-align: center">333-173702</TD>
    <TD STYLE="width: 3%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 22%; font-weight: bold; text-align: center"><B>27-3955524</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State of incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; font-weight: bold; text-align: center"><B>1384 Broadway, 17th Floor, New York, NY</B></TD>
    <TD STYLE="width: 4%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 48%; font-weight: bold; text-align: center">10018</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>212-921-2000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">(Former name, former
address and former fiscal year, if changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&nbsp;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):</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>TABLE OF CONTENTS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="width: 11%">Item 1.01.</TD>
    <TD STYLE="width: 80%">Entry into a Material Definitive Agreement</TD>
    <TD STYLE="width: 9%; text-align: right; vertical-align: bottom">2</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify">Item 2.01</TD>
    <TD STYLE="text-align: justify">Completion of Disposition of Assets&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">2</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Item 9.01</TD>
    <TD>Financial Statements and Exhibits</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">3</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 1.01.</B></TD><TD STYLE="text-align: justify"><B>Entry into a Material Definitive Agreement.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 23, 2012, the Company&rsquo;s
wholly-owned subsidiary, XLFashions, Inc. (&ldquo;XL&rdquo;) entered into an assignment agreement (the &ldquo;Agreement&rdquo;)
with Orix Venture Finance LLC (&ldquo;Orix&rdquo;). Pursuant to the Agreement, XL acquired from Orix an approximate $3.4 million
principal amount senior secured loan (the &ldquo;Loan&rdquo;) and a warrant (the &ldquo;Warrant&rdquo;) to purchase 65,168 Class
A Preferred Units of eFashion Solutions, LLC, a New Jersey Limited Liability Company (&ldquo;eFashion&rdquo;). Orix was eFashion&rsquo;s
senior secured lender, and the Loan is secured by all of the assets of eFashion. As part of the transaction, Orix also assigned
a registration rights agreement to XL, which requires eFashion to register the securities underlying the Warrant under certain
conditions. The purchase price paid by XL for the Loan, Warrant and related rights was $1,050,000, less a deposit of $20,120 that
was received by Orix between January 17, 2012 and January 22, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 24, 2012, the Company notified
eFashion of the existence of an event of default under the Loan. On May 3, 2012, the Company initiated a lawsuit to recover amounts
due and owing under the Loan from eFashion. Pursuant to a negotiated unwritten settlement, on June 11, 2012, eFashion paid to XL
$250,000 as partial payment towards the outstanding total liability due and owing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 25, 2012, XL and Seacoast Holdings
(eFashion), Inc. (&ldquo;Seacoast&rdquo;) entered into an assignment agreement (the &ldquo;Seacoast Agreement&rdquo;). Pursuant
to the Seacoast Agreement, Seacoast acquired the Loan and the Warrant from XL. As part of the transaction, XL also assigned a registration
rights agreement to Seacoast, which requires eFashion to register the securities underlying the Warrant under certain conditions.
The purchase price paid by Seacoast for the Loan, Warrant, and related rights was $925,000 which such sum was paid to XL on June
27, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item</B> 2.01</TD><TD STYLE="text-align: justify"><B>Completion
of Disposition of Assets</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company disposed of a material asset
pursuant to the terms set forth in Item 1.01 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 9.01</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 75%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 16%; font-weight: bold; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom">Exhibit Number</TD>
    <TD NOWRAP STYLE="width: 3%; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 81%; font-weight: bold; border-bottom: Black 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Assignment Agreement dated June 25, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; text-align: justify"><B>Date:</B> &nbsp;July 3, 2012</TD>
    <TD STYLE="width: 48%; padding-left: 0.25in; font-weight: bold; text-align: justify">EXCEL CORPORATION</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%">&nbsp;</TD>
    <TD STYLE="width: 5%; font-weight: bold">By:</TD>
    <TD STYLE="width: 42%; border-bottom: windowtext 1pt solid; font-weight: bold">/s/ Ruben Azrak</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>Ruben Azrak</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(Principal Executive Officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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{"company-data": {"conformed-name": "Excel Corp", "cik": "0001512890", "assigned-sic": "6794", "irs-number": "273955524", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-173702", "film-number": "12946809"}, "business-address": {"street1": "1384 BROADWAY", "city": "NEW YORK", "state": "NY", "zip": "10018", "phone": "212-391-4600"}, "mail-address": {"street1": "1384 BROADWAY", "city": "NEW YORK", "state": "NY", "zip": "10018"}}
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):
July 3, 2012
Commission
File Number:
333-173702
Excel Corporation
(Exact name of registrant
as specified in its charter)
Delaware
333-173702
27-3955524
(State of incorporation)
(Commission File Number)
(I.R.S. Employer)
Identification No.)
1384 Broadway, 17th Floor, New York, NY
10018
(Address of principal executive offices)
(Zip Code)
212-921-2000
(Registrant's telephone number, including
area code)
Not Applicable
(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))
TABLE OF CONTENTS
Item 1.01.
Entry into a Material Definitive Agreement
2
Item 2.01
Completion of Disposition of Assets
2
Item 9.01
Financial Statements and Exhibits
3
Item 1.01.
Entry into a Material Definitive Agreement.
On January 23, 2012, the Company's
wholly-owned subsidiary, XLFashions, Inc. ("XL") entered into an assignment agreement (the "Agreement")
with Orix Venture Finance LLC ("Orix"). Pursuant to the Agreement, XL acquired from Orix an approximate $3.4 million
principal amount senior secured loan (the "Loan") and a warrant (the "Warrant") to purchase 65,168 Class
A Preferred Units of eFashion Solutions, LLC, a New Jersey Limited Liability Company ("eFashion"). Orix was eFashion's
senior secured lender, and the Loan is secured by all of the assets of eFashion. As part of the transaction, Orix also assigned
a registration rights agreement to XL, which requires eFashion to register the securities underlying the Warrant under certain
conditions. The purchase price paid by XL for the Loan, Warrant and related rights was $1,050,000, less a deposit of $20,120 that
was received by Orix between January 17, 2012 and January 22, 2012.
On April 24, 2012, the Company notified
eFashion of the existence of an event of default under the Loan. On May 3, 2012, the Company initiated a lawsuit to recover amounts
due and owing under the Loan from eFashion. Pursuant to a negotiated unwritten settlement, on June 11, 2012, eFashion paid to XL
$250,000 as partial payment towards the outstanding total liability due and owing.
On June 25, 2012, XL and Seacoast Holdings
(eFashion), Inc. ("Seacoast") entered into an assignment agreement (the "Seacoast Agreement"). Pursuant
to the Seacoast Agreement, Seacoast acquired the Loan and the Warrant from XL. As part of the transaction, XL also assigned a registration
rights agreement to Seacoast, which requires eFashion to register the securities underlying the Warrant under certain conditions.
The purchase price paid by Seacoast for the Loan, Warrant, and related rights was $925,000 which such sum was paid to XL on June
27, 2012.
Item
2.01
Completion
of Disposition of Assets
The Company disposed of a material asset
pursuant to the terms set forth in Item 1.01 above.
2
Item 9.01
Financial Statements and Exhibits.
(d)           Exhibits
Exhibit Number
Description
10.1
Assignment Agreement dated June 25, 2012
SIGNATURES
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 thereunto duly authorized.
Date:
July 3, 2012
EXCEL CORPORATION
By:
/s/ Ruben Azrak
Ruben Azrak
Chief Executive Officer
(Principal Executive Officer)
3