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):  February 15,
      2008





Lakeland
      Industries, Inc.


(Exact
      name of Registrant as Specified in Charter)








Delaware
            
            000-15535
            
            13-3115216(State
                or Other Jurisdiction
              of
                Incorporation)
            
            (Commission
                File Number)
            
            (IRS
                Employer
              Identification
                No.)





701
      Koehler Avenue, Suite 7,
      Ronkonkoma, New York  11779-7410


(Address
      of Principal Executive Offices)








Registrant’s
      telephone number, including area code:  (631)
      981-9700





Not
      Applicable


(Former
      Name or Former Address, 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:





o
            Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)


o
            Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)


o
            Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))


o
            Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))
















Item
                1.01
            Entry
                into a Material Definitive Agreement





On
      February 15, 2008, Wachovia Bank, N.A agreed to amend a negative covenant
      contained in the Company’s $25,000,000 Revolving Line of Credit dated July 7,
      2005, as previously amended on September
      1, 2005 and December 7, 2007.  The effect of this amendment is
      to increase the ceiling on the amount the Company can expend annually to
      repurchase its capital stock from $1,000,000 to $3,000,000.  The
      foregoing brief summary of the amendment to the Company’s credit agreement with
      Wachovia Bank, N.A. does not purport to be complete and is qualified by
      reference to the complete text of such amendment which is attached to this
      Current Report on Form 8-K as Exhibit 10.1 and is
      incorporated herein by reference in its entirety.





Item
                8.01
            Other
                Events.





On
      February 21, 2008, the Company issued a press release announcing that its Board
      of Directors had authorized the repurchase of up to $3,000,000 worth of the
      Company’s outstanding Common Stock.  Under this new program, share
      repurchases may be made from time to time depending on market conditions, share
      price and availability and other factors at Lakeland’s
      discretion.  Lakeland’s repurchase of shares will take place in open
      market transactions or in privately negotiated transactions in accordance with
      applicable securities and other laws, including the Securities Exchange Act
      of
      1934.  Lakeland intends to finance the purchase using its available
      cash and cash equivalents.  Depending on market conditions and other
      factors, the repurchase program may be commenced or suspended at any time
      without prior notice.  The repurchased shares will be held as treasury
      stock and will be principally used for ongoing stock issuances under employee
      stock plans and other general corporate purposes. The foregoing brief summary
      of
      the Company’s press release announcing its stock repurchase program does not
      purport to be complete and is qualified by reference to the complete text of
      such press release which is attached to this Current Report on Form 8-K as
Exhibit 99.1 and
      which is incorporated herein by reference in its entirety.







Item
                9.01
            Financial
                Statements
                and Exhibits.




(d)
            The
                following have been filed as exhibits to this Form 8-K:




10.1
            Letter
                from Wachovia Bank, N.A., dated February 15, 2008, amending Lakeland’s
                $25,000,000 Revolving Line of Credit dated July 7, 2005.99.1
            Text
                of Press Release issued by Lakeland Industries, Inc., dated February
                21,
                2008, announcing the approval by the Lakeland Board of Directors
                of a
                Stock Repurchase Plan.











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 hereunto
      duly authorized.




LAKELAND
                INDUSTRIES, INC.Date:  February
                21, 2008
            By:
            /s/
                Christopher J. RyanName:
                Christopher J. RyanTitle:
                President and Chief Executive
                Officer








INDEX
      TO
      EXHIBITS











Exhibit
              Number
            Description10.1
            Letter
                from Wachovia Bank, N.A., dated February 15, 2008, amending Lakeland’s
                $25,000,000 Revolving Line of Credit dated July 7, 2005.99.1
            Text
                of Press Release issued by Lakeland Industries, Inc., dated February
                21,
                2008, announcing the approval by the Lakeland Board of Directors
                of a
                Stock Repurchase Plan.