SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
SPECIALTY CATALOG CORP.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title Class of Securities)
84748Q 10 3
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP No. 84748Q 10 3 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GKN SECURITIES CORP.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|_|
(b)|_|
N/A
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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| 5 SOLE VOTING POWER
|
| 611,475 shares of Common Stock
NUMBER OF |---------------------------------------------------------------
SHARES | 6 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY | 0
EACH |---------------------------------------------------------------
REPORTING | 7 SOLE DISPOSITIVE POWER
PERSON |
WITH | 611,475 shares of Common Stock
|---------------------------------------------------------------
| 8 SHARED DISPOSITIVE POWER
|
| 0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
611,475 shares of Common Stock
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
13.0%
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12 TYPE OF REPORTING PERSON
BD
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CUSIP No. 84748Q 10 3 13G Page 3 of 5 Pages
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Item 1(a). Name of Issuer:
The name of the issuer of the security to which this Schedule
13G pertains is Specialty Catalog Corp., a Delaware corporation ("Issuer").
Item 1(b). Address of Issuer's Principal Executive Offices:
The Issuer's principal executive offices are located at 21
Bristol Drive, South Easton, Massachusetts 02375.
Item 2(a). Names of Person Filing:
GKN Securities Corp.
Item 2(b). Address of Principal Business Office:
GKN Securities Corp. is located at 61 Broadway, New York,
New York 10006.
Item 2(c). Citizenship:
N/A
Item 2(d). Title of Class of Securities:
The security to which this Schedule 13G relates is the
Common Stock, par value $.01 per share, of the Issuer ("Common Stock").
Item 2(e). CUSIP Number:
The CUSIP Number assigned to the Common Stock is 84748Q 10 3.
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) |X| Broker or dealer registered under Section 15 of the Securities Exchange
Act, as amended ("Act"),
(b) |_| Bank as defined in Section 3(a)(6) of the Act,
(c) |_| Insurance Company as defined in Section 3(a)(9) of the Act,
(d) |_| Investment Company registered under Section 8 of the Investment Company
Act,
(e) |_| Investment Adviser registered under Section 9 of the Investment Company
Act,
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CUSIP No. 84748Q 10 3 13G Page 4 of 5 Pages
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(f) |_| Employee Benefit Plan, Pension Fund which is subject to the provision
of the Employee Retirement Income Security Act of 1974 or Endowment
Fund; see 13d- 1(b)(1)(ii)(F),
(g) |_| Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G); see
Item 7,
(h) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Item 4. Ownership.
(a) Amount beneficially owned: 611,475 shares of Common Stock as of December
31, 1996
(b) Percent of class: 13.0% of the outstanding shares of Common Stock
(c) Number of shares of Common Stock as to which such person has:
(i) Sole power to vote or to direct the vote: 611,475 shares of Common
Stock
(ii) Shared power to vote or to direct the vote: 0 shares of Common Stock
(iii) Sole power to dispose or to direct the disposition of: 611,475 shares
(iv) Shared power to dispose or to direct disposition of: 0 shares of
Common Stock
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
Not Applicable.
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CUSIP No. 84748Q 10 3 13G Page 5 of 5 Pages
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Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such securities
and were not acquired in connection with or as a participant in any transaction
having such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: June 10, 1997
GKN SECURITIES CORP.
By: /s/Lawrence Wachler
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Lawrence Wachler
Title: Vice President and Assistant
Compliance Director
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