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) August 8, 2000
CPI CORP.
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(exact name of registrant as specified in its charter)
Delaware 0-11227 43-1256674
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(State or other jurisdiction (Commission file (IRS Employer
of incorporation) Number) Identification No.)
1706 Washington Avenue, St. Louis, Missouri 63103-1790
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(Address of principal executive offices) (Zip code)
Registrants' telephone number, including area code (314) 231-1575
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(Former name or former address, if changes since last report.)
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ITEM 5. OTHER EVENTS
A. On August 8, 2000, CPI Corp. issued the following press
release:
CPI CORP. ANNOUNCES PRINTS PLUS SALE NEGOTIATIONS TERMINATED
St. Louis, MO., August 8, 2000 - CPI Corp. (NYSE-CPY) ("CPI")
announced today that negotiations to sell its Wall Decor
business to a holding company formed by top management of
Prints Plus and Huron Capital Partners, LLC have terminated.
The parties were not able to reach agreement on the
definitive terms of the proposed transaction. CPI had
announced the execution of a letter of intent and
commencement of negotiations in April.
Commenting on the termination of negotiations, Alyn V.
Essman, Chairman and Chief Executive Officer of CPI, said
"We will continue to operate the Prints Plus stores in the
ordinary course of business as we pursue discussions with
other potential buyers to dispose of this business."
CPI Corp. is a consumer services company with $319.1 million
in fiscal 1999 sales from continuing operations, operating
1,021 Sears Portrait Studios in the United States, Puerto
Rico and Canada.
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SIGNATURE
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 thereunto duly authorized.
CPI CORP.
(Registrant)
/s/ Alyn V. Essman
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Alyn V. Essman
Chairman and Chief Executive
Officer
Dated: August 10, 2000
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