SCHEDULE 13D
Amendment No. 1
Lamonts Apparel Corporation
Common Stock
Cusip # 513628206
Filing Fee: No
Cusip # 513628206
Item 1: Reporting Person - FMR Corp. - (Tax ID: 04-2507163)
Item 4: PF
Item 6: Commonwealth of Massachusetts
Item 7: 80,019
Item 8: None
Item 9: 3,390,354
Item 10: None
Item 11: 3,390,354
Item 13: 17.33%
Item 14: HC
PREAMBLE
The filing of this Schedule 13D is not, and should not be
deemed to be, an admission that such Schedule 13D is required to
be filed. See the discussion under Item 2.
Item 1. Security and Issuer.
This statement relates to shares of the common stock, $0.01
par value (the "Shares") of Lamonts Apparel Corporation, a
Delaware corporation (the "Company"). The principal executive
offices of the Company are located at 3650 131st Avenue
Southeast, Bellevue, WA 98006-1334.
Item 2. Identity and Background.
Item 2 is amended as follows:
This statement is being filed by FMR Corp., a Massachusetts
Corporation ("FMR"). FMR is a holding company one of whose
principal assets is the capital stock of a wholly-owned
subsidiary, Fidelity Management & Research Company ("Fidelity"),
which is also a Massachusetts corporation. Fidelity is an
investment advisor which is registered under Section 203 of the
Investment Advisors Act of 1940 and which provides investment
advisory services to more than 30 investment companies which are
registered under Section 8 of the Investment Company Act of 1940
and serves as investment advisor to certain other funds which are
generally offered to limited groups of investors (the "Fidelity
Funds"). Fidelity Management Trust Company ("FMTC"), a wholly-
owned subsidiary of FMR Corp. and a bank as defined in Section
3(a)(6) of the Securities Exchange Act of 1934, serves as trustee
or managing agent for various private investment accounts,
primarily employee benefit plans and serves as investment adviser
to certain other funds which are generally offered to limited
groups of investors (the "Accounts"). Various directly or
indirectly held subsidiaries of FMR are also engaged in
investment management, venture capital asset management,
securities brokerage, transfer and shareholder servicing and real
estate development. The principal offices of FMR, Fidelity, and
FMTC are located at 82 Devonshire Street, Boston, Massachusetts
02109.
Members of the Edward C. Johnson 3d family are the
predominant owners of Class B shares of common stock representing
approximately 49% of the voting power of FMR Corp. Mr. Johnson
3d owns 12.0% and Abigail Johnson owns 24.5% of the aggregate
outstanding voting stock of FMR Corp. The Johnson family group
and all other Class B shareholders have entered into a
shareholders' voting agreement under which all Class B shares
will be voted in accordance with the majority vote of Class B
shares. Accordingly, through their ownership of voting common
stock and the execution of the shareholders' voting agreement,
members of the Johnson family may be deemed, under the Investment
Company Act of 1940, to form a controlling group with respect to
FMR Corp. Mr. Johnson 3d is Chairman of FMR Corp. The business
address and principal occupation of Mr. Johnson 3d is set forth
in Schedule A hereto.
The Shares to which this statement relates are owned
directly by ten of the Fidelity Funds, and five of the Accounts.
The name, residence or business address, principal
occupation or employment and citizenship of each of the executive
officers and directors of FMR are set forth in Schedule A hereto.
Within the past five years, none of the persons named in
this Item 2 or listed on Schedule A has been convicted in any
criminal proceeding (excluding traffic violations or similar
misdemeanors) or has been a party to any civil proceeding and as
a result thereof was or is subject to any judgment, decree or
final order enjoining future violations of, or prohibiting or
mandating activities subject to federal or state securities laws
or finding any violations with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is amended as follows:
The Fidelity Funds purchased in the aggregate 511,881 Shares
for cash in the amount of approximately $399,267, including
brokerage commissions, since October 30, 1995. Except as
described below, the Fidelity Funds used their own assets in
making such purchases and no part of the purchase price was
represented by borrowed funds. Of the 511,880 Shares owned by
one Fidelity Fund as of October 30, 1995, 511,880 shares were
purchased on margin pursuant to a typical margin agreement with
Bear, Stearns & Co. Proceeds from 374,310 Shares sold since
October 30, 1995, aggregated approximately $5,361. The attached
Schedule B sets forth Shares purchased and/or sold since
September 1, 1995.
Item 4. Purpose of Transaction.
Item 4 is amended as follows:
The purpose of Fidelity and FMTC in having the Fidelity
Funds and the Accounts purchase the Shares was to acquire an
equity interest in the Company pursuant to specified investment
objectives established by the Board of Trustees of the Fidelity
Funds and by the investors in the Accounts.
Fidelity and FMTC, respectively, may continue to have the
Fidelity Funds and the Accounts purchase Shares subject to a
number of factors, including, among others, the availability of
Shares for sale at what they consider to be reasonable prices and
other investment opportunities that may be available to the
Fidelity Funds and Accounts.
Fidelity and FMTC, respectively, intend to review
continuously the equity position of the Fidelity Funds and
Accounts in the Company. Depending upon future evaluations of
the business prospects of the Company and upon other
developments, including, but not limited to, general economic and
business conditions and money market and stock market conditions,
Fidelity may determine to cease making additional purchases of
Shares or to increase or decrease the equity interest in the
Company by acquiring additional Shares, or by disposing of all or
a portion of the Shares.
The Company filed for protection under Chapter 11 of the
U.S. Bankruptcy Code in January of 1995. Fidelity is currently
serving as their chair of the Noteholders Committee and
accordingly, Fidelity is participating in various discussions and
activities consistent with its acting as chair of such committee.
Except for the foregoing, neither Fidelity nor FMTC has any
present plan or proposal which relates to or would result in (i)
an extraordinary corporate transaction, such as a merger,
reorganization, liquidation, or sale of transfer of a material
amount of assets involving the Company or any of its
subsidiaries, (ii) any change in the Company's present Board of
Directors or management, (iii) any material changes in the
Company's present capitalization or dividend policy or any other
material change in the Company's business or corporate structure,
(iv) any change in the Company's charter or by-laws, or (v) the
Company's common stock becoming eligible for termination of its
registration pursuant to Section 12(g)(4) of the 1934 Act.
Item 5. Interest in Securities of Issuer.
Item 5 is amended as follows:
FMR, Fidelity, and FMTC, beneficially own all 3,390,354
Shares.
(a) FMR beneficially owns, through Fidelity, as investment
advisor to the Fidelity Funds, 3,233,942 Shares, or approximately
16.53% of the outstanding Shares of the Company, and through
FMTC, the managing agent for the Accounts, 156,412 Shares, or
approximately 0.80% of the outstanding Shares of the Company.
FMR could also be deemed to beneficially own certain of such
Shares through its ownership of the general partner of certain
private investment funds. The number of Shares held by the
Fidelity Funds includes 1,586,860 Shares resulting from the
assumed exercise of 1,586,860 Warrants (1 share of common stock
for each Warrant). The number of Shares held by the Accounts
includes 105,904 Shares resulting from the assumed exercise of
105,904 Warrants as described above. Neither FMR, Fidelity,
FMTC, nor any of its affiliates nor, to the best knowledge of
FMR, any of the persons name in Schedule A hereto, beneficially
owns any other Shares. The combined holdings of FMR, Fidelity,
and FMTC, are 3,390,354 Shares, or approximately 17.33% of the
outstanding Shares of the Company.
(b) FMR, through its control of Fidelity, investment
advisor to the Fidelity Funds, and the Funds each has the sole
power to dispose of the Shares. Neither FMR nor Mr. Johnson has
the sole power to vote or direct the voting of the 3,233,942
Shares owned directly by the Fidelity Funds, which power resides
with the Funds' Boards of Trustees. Fidelity carries out the
voting of the Shares under written guidelines established by the
Funds' Board of Trustees. FMR through its control of Fidelity,
investment advisor to Fidelity Copernicus Fund, L.P.
("Copernicus") a private investment limited partnership, and
Copernicus each has the sole power to vote or direct the voting
of 511,880 Shares owned directly by Copernicus. FMR, through its
control of FMTC, investment manager to the Accounts, and the
Accounts each has sole dispositive power over 156,412 Shares and
the sole power to vote or to direct the voting of 80,019 Shares,
and no power to vote or to direct the voting of 76,393 Shares
owned by the Accounts.
(c) Except as set forth in Schedule B, neither FMR, or any
of its affiliates, nor, to the best knowledge of FMR, any of the
persons named in Schedule A hereto has effected any transaction
in Shares during the past sixty (60) days.
Item 6. Contract, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer.
Other than the margin agreement described in Item 3 above
and except as described in the following paragraph, neither FMR
nor any of its affiliates nor, to the best knowledge of FMR, any
of the persons named in Schedule A hereto has any joint venture,
finder's fee, or other contract or arrangement with any person
with respect to any securities of the Company.
The Funds and Accounts may from time to time own debt
securities issued by the Company, and may from time to time
purchase and/or sell such debt securities.
Item 7. Material to be Filed as Exhibits.
Not Applicable.
This statement speaks as of its date, and no inference
should be drawn that no change has occurred in the facts set
forth herein after the date hereof.
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.
FMR Corp.
DATE: November 9, 1995 By: /s/Arthur
Loring
Arthur S. Loring
Vice President-Legal
SCHEDULE A
The name and present principal occupation or employment of
each executive officer and director of FMR Corp. are set forth
below. The business address of each person is 82 Devonshire
Street, Boston, Massachusetts 02109, and the address of the
corporation or organization in which such employment is conducted
is the same as his business address. All of the persons listed
below are U.S. citizens.
POSITION WITH
PRINCIPAL
NAME FMR CORP. OCCUPATION
Edward C. Johnson 3d President,
Chairman of the
Director, CEO Board and CEO, FMR
Chairman &
Mng. Director
J. Gary Burkhead Director President-Fidelity
Caleb Loring, Jr. Director, Director, FMR
Mng. Director
James C. Curvey Director, Sr. V.P., FMR
Sr. V.P.
William L. Byrnes Vice Chairman Vice Chairman, FIL
Director & Mng.
Director
Abigail P. Johnson Director Portfolio Mgr -
Fidelity
Management &
Research
Company
Robert C. Pozen Sr. V.P. & Gen'l Sr. V.P. & Gen'l
Counsel Counsel, FMR
David C. Weinstein Sr. Vice President Sr. Vice President
Administration Administration
Gerald M. Lieberman Sr. Vice Pres. - Sr.Vice Pres. -
Chief Financial Chief Financial
Officer Officer
SCHEDULE B
Lamonts Apparel Corporation
Four Fidelity Funds sold Shares since September 1, 1995 at the
dates and at the prices set forth below. The transactions were
made for cash in open market transactions or with other
investment companies with the same or an affiliated investment
advisor.
DATE SHARES PRICE
09-12-95 47,300 $.0625
10-30-95 239,622 .0100
SCHEDULE B
Lamonts Apparel Corporation
Two Fidelity Funds sold Warrants since September 1, 1995 at the
dates and at the prices set forth below. The transactions were
made for cash in open market transactions or with other
investment companies with the same or an affiliated investment
advisor.
DATE SHARES PRICE
09-13-95 87,388 $.0001
