SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 6, 1995
CIRCLE FINE ART CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE 1-8653 36-2855867
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State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification No
incorporation or
organization.
303 E. Wacker Drive, Suite 830, Chicago, Illinois 60601
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 312-616-1300
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
On June 22, 1995, the Board of Directors of Circle Fine Art Corporation
("Circle") accepted the resignation of Louis G. Yaseen as President and
CEO. Mr. Yaseen will continue as a Board Director of Circle, President
of The Winbrook Group, Ltd. ("Winbrook"), and as a consultant to Circle.
In Mr. Yaseen's place, Circle's Board of Directors appointed Erwin A.
Marks as President and CEO under a multi-year management contract. Mr.
Marks is well-established as a turnaround executive and has had
experience in rebuilding troubled retail companies. Most recently, he
managed a portfolio of companies owned by Heller Financial, Inc. He
serves as a Director on several corporate Boards, including Gantos, Inc.
and Value Merchants, Inc., two publicly traded retailers, which recently
emerged from Chapter 11 bankruptcy.
Item 6. Resignation of Registrant's Directors
On June 30, 1995, the Board of Directors of Circle Fine Art Corporation
accepted the resignations of Carolyn Solomon and Jack Solomon as Board
Directors. Both have indicated that they intend to remain in their
current employment positions. Mr. Solomon is the Founder and former
Chairman of Circle. Mrs. Solomon was formerly President and Chief
Operating Officer.
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Item 7 Exhibits
Exhibit #
1 Not applicable
2 Not applicable
4 Not applicable
16 Not applicable
17 Not applicable
21 Not applicable
24 Not applicable
25 Not applicable
28 Not applicable
<PAGE>
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.
CIRCLE FINE ART CORPORATION
(Registrant)
Date: July 7, 1995 By /s/ JOSEPH R. ATKIN
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Joseph R. Atkin
Vice President and
Chief Financial Officer
