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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): August 5, 1998
THE GRAND UNION COMPANY
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(Exact Name of Registrant as Specified in its Charter
Delaware
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(State or Other Jurisdiction of Incorporation)
0-26602 22-1518276
(Commission File Number) (I.R.S. Employer
201 Willowbrook Boulevard Identification No.)
Wayne, New Jersey
07470
(Address of Principal Executive Offices)
(Zip Code)
(973) 890-6000
(Registrant's Telephone Number, Including Area Code)
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. OTHER EVENTS.
On August 5, 1998, the United States Bankruptcy Court for the District of
New Jersey entered an order (the "Confirmation Order") confirming the Plan of
Reorganization (the "Plan") of The Grand Union Company (the "Company"). The Plan
is attached as Exhibit 1 to the Disclosure Statement, dated May 22, 1998, as
previously filed. Filed herewith is a copy of the Company's Press Release, dated
August 5, 1998, announcing the entering of the Confirmation Order.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
2.1 Disclosure Statement, dated May 22, 1998 (including Plan of
Reorganization attached as Exhibit 1 thereto), incorporated by
reference to the Company's Current Report on Form 8-K dated
May 27, 1998.
99.1 Press Release, dated August 5, 1998.
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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.
THE GRAND UNION COMPANY
Dated: August 5, 1998 By: /s/ Jeffrey P. Freimark
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Name: Jeffrey P. Freimark
Title: Executive Vice President
and Chief Financial Officer
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EXHIBIT INDEX
Exhibit
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2.1 Disclosure Statement, dated May 22, 1998 (including Plan of Reorganization
attached as Exhibit 1 thereto), incorporated by reference to the Company's
Current Report on Form 8-K dated May 27, 1998.
99.1 Press Release, dated August 5, 1998
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
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GRAND UNION RESTRUCTURING PLAN CONFIRMED BY COURT
CLEARS WAY TO PURSUE PROFITABLE GROWTH STRATEGY
WAYNE, NJ. AUGUST 5, 1998 -- The Grand Union Company announced today that
the U.S. Bankruptcy Court in Newark, New Jersey, has confirmed its voluntary,
prepackaged plan of reorganization. As a result, the Company anticipates that it
will complete its restructuring and emerge from Chapter 11 on or about August
17.
J. Wayne Harris, Chairman of the Board and Chief Executive Officer, said,
"As a result of the restructuring, we will now have an appropriate capital
structure and the necessary financial resources to support Grand Union's
profitable growth through an aggressive business strategy. Our management team
is eager to move ahead with its business plan which seeks to capitalize on our
Company's valuable consumer recognition, excellent store locations and other
assets to enhance the value of the Company over the long term."
Grand Union's restructuring plan received overwhelming approval from the
Company's senior noteholders and preferred stockholders in a solicitation
completed on June 22, 1998. In connection with the restructuring, Grand Union
has entered into an agreement with UBS AG, Stamford Branch and Lehman Commercial
Paper Inc., for a $300 million credit facility.
Grand Union currently operates 222 retail food stores in six Northeastern
states.
Some of the matters discussed herein are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to risks, uncertainties and other factors
that could cause actual results to differ materially from future results
expressed or implied by such forward-looking statements. For additional
information about the Company and its various risk factors, please see the
Company's most recent Form 10-K dated March 28, 1998, as filed with the
Securities and Exchange Commission on June 26, 1998, and other documents as
filed with the Securities and Exchange Commission.
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