CHILDTIME LEARNING CENTERS INC
SC 13D/A, 2000-08-22
CHILD DAY CARE SERVICES
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934*
Amendment No. 1

Childtime Learning Centers, Inc.
(Name of Issuer)

Common Stock, No Par Value
(Title of Class of Securities)


168820108
(CUSIP Number)


Benjamin R. Jacobson
595 Madison Avenue, Suite 3100
New York, NY 10022
(212) 758-4500



                                                               
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)


August 16, 2000
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box [ ].

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

*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 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).

Page 1 of 37 Pages

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 2 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

JP Acquisition Fund II, L.P.


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF, WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Delaware

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

294,200

0

294,200

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
294,200

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
5.36%

14

TYPE OF REPORTING PERSON*
   
PN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 3 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

JP Acquisition Fund III, L.P.


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF, WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Delaware

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

482,171

0

482,171

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
482,171

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
8.78%

14

TYPE OF REPORTING PERSON*
   
PN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 4 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

JPAF, Limited Partnership


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF, WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Delaware

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

0

294,200

0

294,200

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
294,200

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
5.36%

14

TYPE OF REPORTING PERSON*
   
PN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 5 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

JPAF III, LLC


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF, WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Delaware

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

0

482,171

0

482,171

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
482,171

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
8.78%

14

TYPE OF REPORTING PERSON*
   
CO

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 6 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Jacobson Partners


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF, WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
New York

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

0

776,371

0

776,371

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
776,371

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
14.14%

14

TYPE OF REPORTING PERSON*
   
PN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 7 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Benjamin R. Jacobson


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

22,193

776,371

22,193

776,371

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
798,564

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
14.52%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 8 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

James F. Wilson


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

0

776,371

0

776,371

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
776,371

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
14.14%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 9 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Michael L. Fuchs


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

20,320

0

20,320

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
20,320

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
.37%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 10 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

George A. Kellner


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

2,922,558

0

2,922,558

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
2,922,558

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
53.15%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 11 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Wm. Brian Little


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

0

17,558

0

17,558

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
17,558

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.32%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 12 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Amcito Partners, L.P.


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
New York

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

17,558

0

17,558

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
17,558

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
.32%

14

TYPE OF REPORTING PERSON*
   
PN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 13 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Nathan Gantcher


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

17,558

0

17,558

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
17,558

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
.32%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 14 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Gerald L. Parsky


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

17,558

0

17,558

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
17,558

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
.32%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 15 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Paul V. Hoagland


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

1,801

0

1,801

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
1,801

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
.03%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 16 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Bernard Matte


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Canada

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

0

3,602

0

3,602

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
3,602

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.07%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 17 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Barcam Holdings, Inc.


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Ontario, Canada

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

3,602

0

3,602

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
3,602

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.07%

14

TYPE OF REPORTING PERSON*
   
HC

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 18 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Raymond P. Barbrick


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

1,801

0

1,801

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
1,801

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.03%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 19 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Harrison R. Horan


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

3,602

0

3,602

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
3,602

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.07%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 20 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Walter E. Cisowski


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

1,801

0

1,801

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
1,801

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.03%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 21 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Timothy Whelan


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

1,801

0

1,801

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
1,801

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.03%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 22 of 37


1

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

John Dickerson


2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                                                                                     (a) [X]
                                                                                                                                                     (b) [   ]

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

3,602

0

3,602

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
3,602

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.07%

14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 23 of 37



1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Geraldine Ann Cachat

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [X] (a)
                                                                                                                                                     [   ] (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF


5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

 

720

0

720

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
720


12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.01%


14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 24 of 37



1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Jamie L. Goldberg

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [X] (a)
                                                                                                                                                     [   ] (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF


5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States of America


  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

901

0

901

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
901

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.02%


14

TYPE OF REPORTING PERSON*
   
IN

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 25 of 37



1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Trust FBO Nicholas Karlson

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [X] (a)
                                                                                                                                                     [   ] (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
New York


  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

961

0

961

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
961


12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.02%

14

TYPE OF REPORTING PERSON*
   
OO

SCHEDULE 13D




CUSIP No.: 168820108


  


Page 26 of 37


1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Trust U/A/D 12/21/87 FBO Sara Katherine Jacobson

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [X] (a)
                                                                                                                                                     [   ] (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
PF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
New York


  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

1,801

0

1,801

0

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
1,801


12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
0.03%

14

TYPE OF REPORTING PERSON*
   
OO

Page 27 of 37

ITEM 1. SECURITY AND ISSUER

        This Statement on Schedule 13D/A, Amendment No. 1 relates to the shares of Common Stock, no par value (the “Shares”) of Childtime Learning Centers, Inc., a Michigan corporation (the “Company”).

        The address of the Company’s principal executive offices is 38345 West 10 Mile Road, Suite 100, Farmington Hills, MI 48335.

ITEM 2. IDENTITY AND BACKGROUND

        The Statement on Schedule 13D (the "13D"), dated July 24, 2000, which was filed on behalf of JP Acquisition Fund II, L.P., JP Acquisition Fund III, L.P., JPAF, Limited Partnership, JPAF III, LLC, Jacobson Partners, Benjamin R. Jacobson, James F. Wilson, Michael L. Fuchs, George A. Kellner, Wm. Brian Little, Amcito Partners, L.P., Nathan Gantcher, Gerald L. Parsky, Paul V. Hoagland, Bernard Matte, Barcam Holdings, Inc., Raymond P. Barbrick, Harrison R. Horan, Walter E. Cisowski, Timothy Whelan, and John Dickerson (collectively, with Geraldine Ann Cachat, Jamie L. Goldberg, Trust FBO Nicholas Karlson and Trust U/A/D 12/21/87 FBO Sara Katherine Jacobson, the "Reporting Persons") is hereby amended, supplemented and restated as set forth below.

        JPAF, Limited Partnership, a Delaware limited partnership, is the general partner of JP Acquisition Fund II, L.P. The general partner of JPAF, Limited Partnership is Jacobson Partners, a New York general partnership of which Benjamin R. Jacobson is the managing partner and James F. Wilson is a partner.

        JPAF III, LLC, a Delaware limited liability company, is the general partner of JP Acquisition Fund III, L.P. Jacobson Partners is the sole member of JPAF III, LLC.

        The other Reporting Persons consist of persons who generally co-invest with Jacobson Partners and its affiliate funds, executives of portfolio companies of such affiliate funds and employees of Jacobson Partners.

        Amcito Partners, L.P. is a New York limited partnership. The general partner of Amcito Partners, L.P. is Wm. Brian Little.

        Barcam Holdings, Inc. is an Ontario corporation, controlled by Bernard Matte.

        Michael L. Fuchs is the trustee of the Trust FBO Nicholas Karlson and of the Trust U/A/D 12/21/87 FBO Sara Katherine Jacobson.

        Set forth below, in the following table, is certain information with respect to each of the Reporting Persons and each of the persons enumerated in General Instruction C to Schedule 13D.


Name and Address

Citizenship or State of
Incorporation/Organization

Principal Occupation or
Business                          


JP Acquisition Fund II, L.P.
595 Madison Avenue, Suite 3100
New York, NY 10022

Delaware

Investment Partnership

JP Acquisition Fund III, L.P.
595 Madison Avenue, Suite 3100
New York, NY 10022

Delaware

Investment Partnership

JPAF, Limited Partnership
595 Madison Avenue, Suite 3100
New York, NY 10022

Delaware

General Partner of JP
Acquisition Fund II, L.P.


JPAF III LLC
595 Madison Avenue, Suite 3100
New York, NY 10022

Delaware

General Partner of JP
Acquisition Fund III, L.P.


Jacobson Partners
595 Madison Avenue, Suite 3100
New York, NY 10022

New York

Investment Partnership,
General Partner of JPAF,
Limited Partnership, Sole
Member of JPAF III, LLC


Benjamin R. Jacobson
595 Madison Avenue, Suite 3100
New York, NY 10022

USA

Managing Partner of
Jacobson Partners


James F. Wilson
595 Madison Avenue, Suite 3100
New York, NY 10022

USA

Partner of Jacobson Partners


Michael L. Fuchs
9 West 57th Street
New York, NY 10019

USA

Private Investor


George A. Kellner
Kellner, DiLeo & Co.
900 Third Avenue, 10th Floor
New York, NY 10022

USA

Chairman of the Board of
the Company and Chief
Executive Officer of
Kellner, DiLeo & Co. (New
York, New York)


Wm. Brian Little
630 Fifth Avenue, Suite 2620
New York, NY 10111

USA

Private Investor, General
Partner of Amcito Partners


Amcito Partners, L.P.
630 Fifth Avenue, Suite 2620
New York, NY 10111

New York

Investment Partnership
(controlled by Wm. Brian
Little-General Partner)


Nathan Gantcher
HPB Associates
65 East 55th Street, 30th Floor
New York, NY 10022

USA

Private Investor

Gerald L. Parsky
Aurora Capital Group
10877 Wilshire Boulevard
Suite 2100
Los Angeles, CA 90024

USA

Private Investor

Paul V. Hoagland
N.E. Restaurant Co., Inc.
5 Cock Tower Place, Suite 200
Maynard, MA 01754

USA

Executive/Manager, N.E.
Restaurant Co., Inc.


Bernard Matte
3590 Avenue du Musee
Montreal, Quebec, Canada
H3G LC7

Canada

Private Investor, President
and Chief Executive Officer
of Barcam Holdings, Inc.,
President of Flexible
Packaging Corp.

Barcam Holdings, Inc.
3590 Avenue du Musee
Montreal, Quebec, Canada
H3G LC7

Ontario, Canada

Holding Company
(controlled by Bernard
Matte)


Raymond P. Barbrick
28 Laurel Drive
Willington, CT 06279

USA

President of Bertucci's
Restaurants


Harrison R. Horan
8523 Country Club Drive
Franklin, WI 53132

USA

Manager of Conforma Clad
Inc., a specialty metals
manufacturing company


Walter E. Cisowski
2211 Arnold Palmer Blvd.
Louisville, KY 40245

USA

Vice President, Operations
of Conforma Clad Inc.


Timothy Whelan
9344 Plumwood Place
Crestwood, KY 40014

USA

Controller of Conforma Clad Inc.


John Dickerson
1028 Quaker Ridgeway
Duluth, GA 30097

USA

President of Gem Products,
Inc., a manufacturer and distributor of appliance, heating, cooling and ventilation parts and motors


Geraldine Ann Cachat
c/o Jacobson Partners
595 Madison Avenue, Suite 3100
New York, NY 10022

USA

Employee of Jacobson Partners

Jamie L. Goldberg
c/o Jacobson Partners
595 Madison Avenue, Suite 3100
New York, NY 10022

USA

Certified Public
Accountant, employed by
Jacobson Partners

Trust FBO Nicholas Karlson
595 Madison Avenue, Suite 3100
New York, NY 10022

New York

Trust for benefit of
Benjamin R. Jacobson's
stepson (Michael L. Fuchs, as trustee)

Trust U/A/D 12/21/87 FBO
Sara Katherine Jacobson
595 Madison Avenue, Suite 3100
New York, NY 10022

New York

Trust for benefit of
Benjamin R. Jacobson's daughter (Michael L. Fuchs, as trustee)


        During the last five years, none of the Reporting Persons, (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he, she or it was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws, or finding any violation with respect to such laws.

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

         Item 3 is hereby amended and restated as follows:

        On July 14, 2000, the Reporting Persons acquired as a group an aggregate of 257,272 Shares for a purchase price of $1,800,904.00. On August 11, 2000, the Reporting Persons acquired as a group an aggregate of 49,200 Shares for a purchase price of $401,226.00. On August 16, 2000, the Reporting Persons acquired as a group an aggregate of 35,000 Shares for a purchase price of $285,425.00. The source of funds for the purchase of the Shares was the working capital and personal funds of the Reporting Persons.

ITEM 4. PURPOSE OF TRANSACTION

        Item 4 is hereby amended and restated as follows:

        The Reporting Persons acquired the Shares for investment purposes. The Reporting Persons intend to exercise Option 1 for the purchase of 294,117 Shares, as described in Item 6 hereof, prior to its expiration on September 5, 2000. The Reporting Persons may, depending upon market conditions and other factors and subject to the provisions of the Agreement with the Company described in Item 6 hereof, acquire additional Shares in the future or dispose of Shares from time to time.

        Jacobson Partners has been retained by the Company to provide certain management and financial consulting services. In this capacity, Jacobson Partners may in the future propose transactions which could result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D; however, Jacobson Partners does not have any current plans or proposals which relate to or would result in any such actions.

        Except as set forth above, none of the Reporting Persons has formulated any plans or proposals which relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D.

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER

        Item 5 is hereby amended and restated as follows:

        (a)     Based on information contained in the Company’s proxy statement dated July 14, 2000, as of June 23, 2000 there were 4,931,655 shares of no par common stock of the Company issued and outstanding.

        On August 11, 2000 and August 16, 2000, the Reporting Persons acquired an aggregate of 84,200 Shares in open market transactions. Including the 257,272 Shares acquired on July 14, 2000 described in the 13D, the Reporting Persons have acquired an aggregate of 341,472 Shares which represent approximately 6.9% of the outstanding common stock of the Company. Prior to the acquisition of such Shares by the Reporting Persons, George A. Kellner, Chairman of the Board of the Company, was the beneficial owner of 2,905,000 Shares representing 58.9% of the outstanding common stock of the Company. Prior to the acquisition of such Shares by the Reporting Persons, Benjamin R. Jacobson, a Director of the Company, and Mr. Kellner, were each the beneficial owner of 10,000 Shares subject to presently exercisable options granted under the Company's Director Stock Option Plan.

        As described in Item 6 hereof, on August 16, 2000 the grant of Option 1 and Option 2, (collectively, the "Options") for the purchase of an aggregate of 557,275 Shares was approved by the Company's shareholders. Accordingly, the Reporting Persons may be deemed to beneficially own an aggregate of 3,813,747 Shares representing approximately 69.23% of the Shares that would be outstanding assuming exercise of the Options and the presently exercisable options for an aggregate of 20,000 Shares held by Messrs. Jacobson and Kellner under the Company's Director Stock Option Plan.

        The following chart sets forth the beneficial ownership of Shares by the Reporting Persons:



Name

Number of Shares to
be Beneficially
Owned                           


Percentage
of Class        

JP Acquisition Fund II,
L.P.(1)

294,200

5.36%

JP Acquisition Fund
III, L.P. (2)

482,171

8.78%

JPAF, Limited
Partnership (3)

2,942

0.05%

JPAF III, LLC (4)

964

0.02%

Jacobson Partners (5)

776,371

14.14%

Benjamin R. Jacobson
(6)

22,193

0.40%

James F. Wilson (7)

1,258

0.02%

Michael L. Fuchs (8)

20,320

0.37%

George A. Kellner (9)
(6)

2,922,558

53.15%

Wm. Brian Little (10)

17,558

0.32%

Amcito Partners L.P. (11)

17,558

0.32%

Nathan Gantcher (12)

17,558

0.32%

Gerald L. Parsky (13)

17,558

0.32%

Paul V. Hoagland (14)

1,801

0.03%

Bernard Matte (15)

3,602

0.07%

Barcam Holdings, Inc. (16)

3,602

0.07%

Raymond P. Barbrick (17)

1,801

0.03%

Harrison R. Horan (18)

3,602

0.07%

Walter E. Cisowski (19)

1,801

0.03%

Timothy Whelan (20)

1,801

0.03%

John Dickerson (21)

3,602

0.07%

Geraldine Ann Cachat (22)

720

0.01%

Jamie L. Goldberg (23)

901

0.02%

Trust FBO Nicholas
Karlson (24)

961

0.02%

Trust U/A/D 12/21/87
FBO Sara Katherine Jacobson (25)

1,801

0.03%


*Option 1 and Option 2, as referenced in the footnotes below, are described in Item 6 below.

(1)

Includes 96,278 and 86,143 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(2)

Includes 157,792 and 141,183 Shares issuable pursuant to, respectively, Option1 and Option 2.

(3)

Consists of JPAF, Limited Partnership's interest as general partner in the Shares owned by JP Acquisition Fund II, L.P., including 963 and 861 Shares issuable pursuant to, respectively, Option 1 and Option 2. In addition, JPAF, Limited Partnership may be deemed the beneficial owner of the 294,200 Shares owned by JP Acquisition Fund II, L.P.

(4)

Consists of JPAF III, LLC's interest as general partner in the Shares owned by JP Acquisition Fund III, L.P., including 316 and 282 Shares issuable pursuant to, respectively, Option 1 and Option 2. In addition JPAF III, LLC may be deemed the beneficial owner of the 482,171 Shares owned by JP Acquisition Fund III, L.P.

(5)

Consists of the aggregate of 776,371 shares beneficially owned by JP Acquisition Fund II, L.P. and JP Acquisition Fund III, L.P. Jacobson Partners, as the general partner of JPAF, Limited Partnership, and as the sole member of JPAF III, LLC, may be deemed to be the beneficial owner of these Shares; however, Jacobson Partners disclaims beneficial ownership of such Shares except to the extent of its direct and indirect partnership and membership interest in such entities.

(6)

Includes 10,000 Shares issuable pursuant to stock options granted under the Company’s Director Stock Option Plan that are exercisable within 60 days. In addition, as the managing general partner of Jacobson Partners, Mr. Jacobson may be deemed to be the beneficial owner of the aggregate of 776,371 Shares beneficially owned by JP Acquisition Fund II, L.P. and JP Acquisition Fund III, L.P.; however, Mr. Jacobson disclaims beneficial ownership of such Shares except to the extent of his direct and indirect partnership interests and membership interests in those entities. In addition, includes 3,993 and 3,573 Shares issuable pursuant to, respectively Option 1 and Option 2.

(7)

Included in the Shares owned by JPAF, Limited Partnership and JPAF III, LLC. In addition, as a general partner of Jacobson Partners, Mr. Wilson may be deemed to be the beneficial owner of the aggregate of 776,371 Shares beneficially owned by JP Acquisition Fund II, L.P. and JP Acquisition Fund III, L.P.; however, Mr. Wilson disclaims beneficial ownership of such Shares except to the extent of his direct and indirect partnership interests and membership interests in those entities.

(8)

Includes 5,748 and 5,143 Shares issuable pursuant to, respectively Option1 and Option 2. In addition as trustee of Trust FBO Nicholas Karlson and Trust U/A/D 12/21/87 FBO Sara Katherine Jacobson (collectively, the "Trusts"), Mr. Fuchs may be deemed to be the beneficial owner of the aggregate of 2,762 Shares beneficially owned by the Trusts.

(9)

Includes 2,427,373 Shares owned by Childcare Associates and 437,267 Shares owned by KD Partners II. Mr. Kellner is the managing partner of Childcare Associates and the managing partner of KD Special Situations Partners, the investment general partner of KD Partners II. Does not include Shares beneficially owned by Harold A. Lewis, the President and Chief Executive Officer of the Company, which, pursuant to a voting agreement, are to be voted by Mr. Lewis as directed by Mr. Kellner for the five-year period ending on February 6, 2001 or, if sooner, until Childcare Associates and KD Partners II beneficially own, in the aggregate, less than 25% of the then outstanding Shares. In addition, includes 5,748 and 5,143 Shares issuable pursuant to, respectively Option 1 and Option 2.

(10)

Consists of 17,558 Shares owned by Amcito Partners, L.P. of which Mr. Little is general partner; however, Mr. Little disclaims beneficial ownership of such Shares except to the extent of his direct and indirect partnership interests in such entity.

(11)

Includes 5,748 and 5,143 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(12)

Includes 5,748 and 5,143 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(13)

Includes 5,748 and 5,143 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(14)

Includes 588 and 526 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(15)

Consists of 3,602 Shares owned by Barcam Holdings Inc. of which Mr. Matte is President and Chief Executive Officer; however Mr. Matte disclaims beneficial ownership of such Shares except to the extent of his direct and indirect ownership interests in such entity.

(16)

Includes 1,177 and 1,053 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(17)

Includes 588 and 526 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(18)

Includes 1,177 and 1,053 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(19)

Includes 588 and 526 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(20)

Includes 588 and 526 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(21)

Includes 1,177 and 1,053 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(22)

Includes 235 and 210 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(23)

Includes 294 and 264 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(24)

Includes 314 and 281 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(25)

Includes 588 and 526 Shares issuable pursuant to, respectively, Option 1 and Option 2.

(b)

See the response to 5(a)


(c)

During the 60 days prior to the date of this filing, none of the Reporting Persons has effected any transactions in the Shares, other than the acquisition of the 341,472 Shares described in Item 3 above.


(d)

No person other than those listed above has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of common stock.

(e)

Not applicable.

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER

        Item 6 is hereby amended and restated as follows:

        Pursuant to a letter agreement, dated July 6, 2000 (the “Agreement”), the Company retained Jacobson Partners, of which Benjamin R. Jacobson, a director of the Company, is the managing general partner, James F. Wilson is a general partner, and George A. Kellner, the Company’s Chairman of the Board, is a special advisor, to provide management and financial consulting services. As consideration for the provision of such services to the Company and its Board of Directors, Jacobson Partners will receive an annual fee of $250,000, plus reimbursement of reasonable out-of-pocket expenses. As additional consideration for such services, the Company’s board has approved, subject to shareholder approval which was given on August 16, 2000, the grant to Jacobson Partners of the Options to acquire, in the aggregate, up to 557,275 shares of the Company’s common stock as described below. The Agreement will continue in effect until terminated by either party upon six months’ prior written notice.

        The Agreement provides that until the second anniversary thereof (July 6, 2002), Jacobson Partners and its affiliates will not acquire Shares in addition to those acquired upon exercise of the Options (whether in the open market or in private transactions) (i) having an aggregate purchase price in excess of $2,500,000 or (ii) at the same time the Company would be engaged in a share repurchase agreement. During that two-year period, pursuant to a separate agreement with Childcare Associates and KD Partners II (Company shareholders controlled by George A. Kellner), Jacobson Partners would have the right to acquire Shares owned by such entities to the extent investors in such entities wish to have their pro rata interest in the Shares owned by such entities sold; provided that any shares so purchased by Jacobson Partners would be subject to an irrevocable voting proxy in favor of George A. Kellner.

        As noted above, pursuant to the Agreement, the Board of Directors and the Company's shareholders have approved the grant to Jacobson Partners (or its affiliates which, for purposes of the Agreement, includes the Reporting Persons) of the following options:

  

(a)

Up to 294,117 shares available for purchase, during the first 21 days after shareholder approval of the options, at an exercise price of $8.50 per share (approximately 120% of the 30-day average of the daily closing prices of the Company’s stock, on the NASDAQ National Market System, as of June 23, 2000) ("Option 1"); and

  

(b)

Up to 263,158 shares available for purchase, at any time after shareholder approval and prior to the second anniversary of the Agreement, at an exercise price of $9.50 per share (approximately 133% of the 30-day average of the daily closing prices of the Company’s stock, on the NASDAQ National Market System, as of June 23, 2000) ("Option 2").

         The Reporting Persons intend to exercise Option 1 on or before its expiration date of September 5, 2000.

        All Shares acquired by Jacobson Partners (or its affiliates) during the first two years of the Agreement, including Shares purchased in the open market or in private transactions, would be subject to registration rights, pursuant to which, until July 6, 2007 (the seventh anniversary of the Agreement), Jacobson Partners would have the right to cause the Company to register, at the Company’s expense, its Shares, (a) whenever the Company is otherwise registering Shares (except in certain circumstances) and (b) once, upon demand, at any other time so long as Jacobson Partners has exercised, in full, the two options granted to it under the Agreement and the demand covers at least 25% of the Shares then owned by it.

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS

Joint Reporting Agreement and Power of Attorney on Behalf of Each Reporting Person.

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.

  

JP ACQUISITION FUND II, L.P.

By: JPAF, Limited Partnership, General Partner
By: Jacobson Partners, General Partner

By:  /s/ Benjamin R. Jacobson                       
Name:  Benjamin R. Jacobson
Title:  Managing Partner


  

JP ACQUISITION FUND III, L.P.

By: JPAF III, LLC, General Partner
By: Jacobson Partners, Sole Member

By:  /s/ Benjamin R. Jacobson                       
Name:  Benjamin R. Jacobson
Title:  Managing Partner


  

JACOBSON PARTNERS

By:  /s/ Benjamin R. Jacobson                       
Name:  Benjamin R. Jacobson
Title:  Managing Partner



  

JPAF, LIMITED PARTNERSHIP

By: Jacobson Partners, General Partner

By:  /s/ Benjamin R. Jacobson                       
Name:   Benjamin R. Jacobson
Title:  Managing Partner


  

JPAF III, LLC

By: Jacobson Partners, Sole Member

By:  /s/ Benjamin R. Jacobson                       
Name:  Benjamin R. Jacobson
Title:  Managing Partner


  

  /s/ Benjamin R. Jacobson                       
BENJAMIN R. JACOBSON


JAMES F. WILSON
MICHAEL L. FUCHS
GEORGE A. KELLNER
WM. BRIAN LITTLE
AMCITO PARTNERS, L.P.
NATHAN GANTCHER
GERALD L. PARSKY
PAUL V. HOAGLAND
BERNARD MATTE
BARCAM HOLDINGS, INC.
RAYMOND P. BARBRICK
HARRISON R. HORAN
WALTER E. CISOWSKI
TIMOTHY WHELAN
JOHN DICKERSON
GERALDINE ANN CACHAT
JAMIE L. GOLDBERG
TRUST FBO NICHOLAS KARLSON
TRUST U/A/D 12/21/87 FBO SARA
     KATHERINE JACOBSON

  /s/ Benjamin R. Jacobson                       
By:  Benjamin R. Jacobson,
as Attorney-in-Fact



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