SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number 1-3185
NOTIFICATION OF LATE FILING
[X] Form 10-K
For the Year Ended: June 30, 1994
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
Part I - Registrant Information
Full name of registrant:
UNITED MERCHANTS AND MANUFACTURERS, INC.
Address of principal executive office (Street and Number):
1650 Palisade Avenue
City, State and Zip Code:
Teaneck, NJ 07666
Part II - Rule 12b-25 (b) and (c)
(a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
(b) The subject Annual Report on Form 10-K will be filed on or before the
fifteenth calendar day following the prescribed due date;
Part III - Narrative
State below in reasonable detail the reasons why Form 10-Q, could not be
filed within the prescribed time period.
Late in the fiscal year ended June 30, 1994, Registrant sold two
significant operations and, on June 30, 1994, completed a major
refinancing. The sale of these significant operations required that
the Registrant's financial statements for the past five years be
restated to report separately the results of operations and the
assets and liabilities of the continuing and the discontinued
businesses. The personnel who prepare the Registrant's filings with
the Commission have been occupied in restating the prior years'
financial statements In addition, the same personnel were preparing
Annual Reports on Form 10-K, Proxy Statements, information for the
Audit Committees and information for the new lender, of both the
Registrant and the Registrant's 79%-owned, publicly-traded
subsidiary. At this time, additional time is necessary to have the
Form 10-K reviewed by all the Registrant's appropriate personnel to
assure adequate disclosure.
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Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification:
Norman R. Forson (201) 837-1700
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter
period that the registrant was required to file such report(s) been filed?
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected
by the earnings statements to be included in the subject report or portion
thereof?
[X] Yes [ ] No
Net sales for the year ended June 30, 1994 will be approximately
9% lower than net sales of $108.4 million for the prior year. Loss
from continuing operations for the current year will approximate the
$23.0 million loss for the fiscal year ended June 30, 1993. In the
year ended June 30, 1994, Registrant will report earnings and gains
on sale of discontinued operations of approximately $4.4 million
versus losses of $2.2 million for fiscal year 1993. Also for fiscal
1994, Registrant will report a gain on retirement of debt of $33.4
million and a loss from the cumulative effect of change in accounting
principles for post-retirement benefits other than pensions of $15.3
million. After the above mentioned items, Registrant will report a
net loss of approximately $0.8 million for fiscal 1994 compared with
a net loss of $25.2 million for fiscal 1993. As mentioned on page
one, the amounts for fiscal 1993 have been restated to report
separately the results of continuing and discontinued businesses.
UNITED MERCHANTS AND MANUFACTURERS, INC.
(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date September 28, 1994 By /s/ Norman R. Forson
Norman R. Forson
Senior Vice President and
Comptroller
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