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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of Earliest Event Reported): November 3, 1995
EDISON BROTHERS STORES, INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
No. 1-1394 43-0254900
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(Commission File Number) (I.R.S. Employer
Identification No.)
501 N. Broadway
St. Louis, Missouri 63102
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(Address of Principal Executive Offices) (Zip Code)
(314) 331-600
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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On November 3, 1995, Edison Brothers Stores, Inc., a
Delaware corporation (the "Registrant"), and its domestic affiliates
set forth on Exhibit 1 hereto, filed in the United States Bankruptcy
Court for the District of Delaware a petition for reorganization under
Chapter 11 of title 11 of the United States Code, case number 95-
1354PJW (the "Chapter 11 Filing"). The Registrant is managing its
business as debtor-in-possession subject to Court approval for certain
actions of the Registrant.
A copy of the press release issued by the Registrant on
November 3, 1995, reporting the Chapter 11 Filing and related matters
is filed as Exhibit 2 hereto.
Item 7. Financial Statements, Pro Forma Financial
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Information and Exhibits.
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(c) Exhibits.
99.1. List of the Registrant's Affiliates
99.2. Press Release, dated November 3, 1995.
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SIGNATURES
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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.
EDISON BROTHERS STORES, INC.
By: /s/ David B. Cooper, Jr.
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Name: David B. Cooper, Jr.
Title: Executive Vice President and Chief
Financial Officer
November 17, 1995
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EXHIBIT INDEX
Exhibit No. Description Page
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99.1. List of the Registrant's Affiliates. 5
99.2. Press Release, dated November 3, 1995. 7
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Exhibit 99.1
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Registrant's Affiliates
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Edison Brothers Apparel Stores, Inc.
Edison Brothers Shoe Stores, Inc.
Edison Paymaster, Inc.
Edison Brothers Redevelopment Corporation
Edbro Missouri Realty Company, Inc.
Edison Alabama Stores, Inc.
Edison Arkansas Stores, Inc.
Edison Colorado Stores, Inc.
Edison Brothers Company
Edison Hawaii Stores, Inc.
Edison Illinois Stores, Inc.
Edison Kansas Stores, Inc.
Edison Kentucky Stores, Inc.
Edison Louisiana Stores, Inc.
Edison Maryland Stores, Inc.
Edison Massachusetts Stores, Inc.
Edison Michigan Stores, Inc.
Edison Minnesota Stores, Inc.
Edison Mississippi Stores, Inc.
Edison Nebraska Stores, Inc.
Edison New Jersey Stores, Inc.
Edison New Mexico Stores, Inc.
Edison New York Stores, Inc.
Edison Ohio Stores, Inc.
Edison Oklahoma Stores, Inc.
Edison Oregon Stores, Inc.
Edison Pennsylvania Stores, Inc.
Edison Tennessee Stores, Inc.
Edison Texas Stores, Inc.
Edison Utah Stores,Inc.
Edbro Ohio Realty, Inc.
EBSS-Montana, Inc.
EBSS-North Central, Inc.
EBSS-Indiana, Inc.
EBSS-Iowa, Inc.
EBSS-Kansas, Inc.
EBSS-Wisconsin, Inc.
EBSS-Northeast, Inc.
EBSS-South, Inc.
EBSS-Mideast, Inc.
EBSS-Michigan, Inc.
EBSS-East, Inc.
EBSS-Ohio, Inc.
EBSS-Pennsylvania, Inc.
EBSS-Texas, Inc.
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EBSS-West, Inc.
Edison Puerto Rico Stores, Inc.
Ebscat, Inc.
Webster Clothes, Inc.
Z & Z Fashions, Ltd.
Webster-Rossville, Inc.
Edison Brothers Mall Entertainment, Inc.
Horizon Entertainment, Inc.
Time-Out Family Amusement Centers, Inc.
Tofac of Puerto Rico, Inc.
Edison Brothers Stores International, Inc.
Edisur, Inc.
EBS Holdings Corp.
Sacha Shoes, Ltd.
Mandel's of California
Edison Whittier Warehouse, Inc.
Edbro California USG #2, Inc.
Edbro Missouri USG #2, Inc.
Edbro California USG #1, Inc.
Industrial Design, Inc.
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EXHIBIT 99.2
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EDISON BROTHERS STORES INC.
EXECUTIVE OFFICES 501 NORTH BROADWAY - POST OFFICE BOX 14020 -
ST. LOUIS, MO 63178-4020 U.S.A.
PHONE (314) 331-6000 FAX (314) 331-7200
Contact: Sitrick And Company
Sandra Sternberg
314/331-6552
Rivian Bell
310/788-2850
EDISON BROTHERS TO COMPLETE RESTRUCTURING THROUGH CHAPTER
11; OBTAINS COMMITMENT FOR $200 MILLION IN POST-PETITION
FINANCING
St. Louis, Mo.-- November 3, 1995 -- Edison Brothers Stores, Inc.
(NYSE:EBS) said today that it has filed to reorganize under Chapter 11
of the Bankruptcy Code. At the same time, the company said that it
has arranged for $200 million of debtor-in-possession (DIP) financing
from BankAmerica Business Credit, which the company believes will
provide adequate funding for operations throughout the Chapter 11
period.
Alan D. Miller, Edison's chairman, said, "We need to make
dramatic changes to preserve our business. The specialty retail
environment remains very difficult, and the recovery we had hoped to
see this fall has not materialized. Moreover, we do not expect to see
a quick fashion shift that will significantly increase regular-price
sales, and the outlook for the holiday selling season is not good at
this point. Additionally, it is essential that we be able to rely on
a steady flow of merchandise going forward.
"After intensive evaluation of our current circumstances, we are
convinced that we must make use of Chapter 11 in order to accomplish
our restructuring," Mr. Miller said.
Mr. Miller announced a number of key elements of the company's
restructuring:
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* Approximately 500 unprofitable stores will be closed by
January 31, 1996, and the company is carefully reviewing its
options regarding an additional group of stores.
* The Oaktree division is being merged into the Jeans West
division, which will allow the company to realize profits
from the most successful Oaktree stores while closing
underperforming units and lowering administrative costs.
* Negotiations are underway for the sale of Edison's mall
entertainment chain, which will complete the company's
withdrawal from the entertainment business and will permit
management to focus fully on its core apparel and footwear
businesses.
* Overhead costs are being significantly reduced.
* Merchandise strategies are undergoing major changes in
several underperforming divisions.
* New management has been installed in four of the company's
operating divisions during the past year.
"We would have preferred to complete our restructuring out of
court, but concluded that prompt and decisive action had to be taken
so that we could achieve our restructuring objectives in an orderly,
timely manner," Mr. Miller said. "Chapter 11 allows us to accelerate
our planned improvements to ensure a strong future for our company.
With the support of our vendors and the hard work of our employees, we
will be able to earn the continued loyalty of our customers, and we
will come through this process a stronger, more competitive company
than ever before," Mr. Miller said.
Mr. Miller said that he believes the company will receive the
support of its suppliers during the reorganization period, adding
that, while federal law prohibits the company from paying for goods
received before the filing, payment for goods and services received
after the filing is given priority status by the court.
The company's daily operations will continue as usual, and store
hours will remain the same. The company said that it expects policies
regarding returns, exchanges, layaways, gift certificates and credit
cards to remain unchanged. Similarly,
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sales associates and other employees will continue to be paid as if no
filing had been made.
Edison Brothers Stores employs approximately 23,000 people in
2,700 retail apparel and footwear stores and entertainment centers in
50 states, Puerto Rico, the U.S. Virgin Islands, Mexico and Canada.
An additional 1,750 are employed at the company's headquarters in St.
Louis; distribution centers in California, Georgia, Indiana and
Missouri; and international buying offices.
The company filed its Chapter 11 petition in the U.S. Bankruptcy
Court in Wilmington, Delaware.
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