<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. __________)*
The Elder-Beerman Stores Corp.
--------------------------------------------
(Name of Issuer)
Common Stock, no par value
--------------------------------------------
(Title of Class of Securities)
284470101
(CUSIP Number)
Stuart J. Lissner
Managing Director
PPM America, Inc.,
225 West Wacker Drive, Suite 1100A
Chicago, Illinois 60606
(312) 634-2501
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 8, 1999
- -------------------------------------------------------------------------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of (S)240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [X].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See (S)240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 284470101 PAGE 2 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
PPM America Special Investments Fund, L.P.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 36-4086849
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
00
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,216,545
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,216,545
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,216,545
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.82%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 284470101 PAGE 3 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
PPM America Fund Management GP. Inc.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
00
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
1,216,545/1/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,216,545
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,216,545
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.82%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
____________________
/1/ All of the securities covered by this report are owned legally by PPM
America Special Investments Fund, L.P., and none are owned directly or
indirectly by PPM America Fund Management GP, Inc. As permitted by Rule 13d-4,
the filing of this statement shall not be construed as an admission that PPM
America Fund Management GP, Inc. is the beneficial owner of any of the
securities covered by this statement.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 284470101 PAGE 4 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
PPM America Special Investments CBO II, L.P.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 98-0179401
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
00
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 735,624
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
735,624
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
735,624
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.73%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 284470101 PAGE 5 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
PPM America CBO II Management Company
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
00
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 735,624/2/
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
735,624
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
735,624
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.73%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
______________
/2/ All of the securities covered by this report are owned legally by PPM
America Special Investments CBO II L.P., and none are owned directly or
indirectly by PPM America CBO II Management Company. As permitted by Rule 13d-4,
the filing of this statement shall not be construed as an admission that PPM
America CBO II Management Company is the beneficial owner of any of the
securities covered by this statement.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 284470101 PAGE 6 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
PPM America, Inc.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
00
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,952,169/3/
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,952,169
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,952,169
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
12.55%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IA
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
______________
/3/ All of the securities covered by this report are owned legally by PPM
America, Inc.'s investment advisory clients, and none are owned directly or
indirectly by PPM America, Inc. As permitted by Rule 13d-4, the filing of this
statement shall not be construed as an admission that PPM America, Inc. is the
beneficial owner of any of the securities covered by this statement.
<PAGE>
Item 1. Security and Issuer
This Schedule 13D relates to the Common Stock, no par value (the
"Securities"), of The Elder-Beerman Stores Corp. ("EBSC"). The address of the
principal executive offices of EBSC is 3155 El-Bee Road, Dayton, Ohio 45439.
Item 2. Identity and Background
(1) PPM America Special Investments Fund, L.P. ("SIF I")
(2) PPM America Fund Management GP, Inc. ("SIF I GP")
(3) PPM America Special Investments CBO II, L.P. ("CBO II")
(4) PPM America CBO II Management Company ("CBO II GP")
(5) PPM America, Inc. ("PPM America")
Collectively referred to hereinafter as "PPM."
Each of SIF I, SIF I GP, CBO II, CBO II GP and PPM America is organized
under the laws of the State of Delaware. SIF I and CBO II are investment funds.
SIF I GP and CBO II GP serve as the general partner of SIF I and CBO II,
respectively. The principal business of PPM America is performing investment
advisory services for its clients. The address for SIF I, SIF I GP, CBO II, CBO
II GP and PPM America is:
225 West Wacker Drive
Suite 1100A
Chicago, Illinois 60606
No disclosure under Item 2(d) or 2(e) is required with respect to PPM.
Schedule I contains certain information concerning the parent companies of PPM
America.
Item 3. Source and Amount of Funds or Other Consideration
The source of funds for PPM's purchases of EBSC shares was funds invested
with PPM by PPM's clients. The aggregate purchase price for 1,374,600 EBSC
shares was $10,954,988; the remaining 577,569 EBSC shares were distributed to
PPM by EBSC in partial satisfaction of PPM's claims against EBSC in EBSC's
federal bankruptcy reorganization proceeding.
Item 4. Purpose of Transaction
PPM holds the shares of EBSC for investment purposes. While PPM is
currently supportive of EBSC's senior management, PPM has requested that the
Board of Directors of EBSC strongly consider taking certain actions in order to
improve EBSC's corporate governance structure. These actions include the
addition of two shareholder nominees to the Board of Directors, the amendment of
EBSC's Articles of Incorporation and Code of Regulations to eliminate "super-
majority" voting requirements, and the separation of the role of the Chairman of
the Board from the role of the Chief Executive Officer. PPM has communicated,
and may continue to communicate, with EBSC's senior management, Board of
Directors and other stockholders regarding these issues.
PPM will periodically review its investment and may, from time to time,
determine to buy shares of EBSC (subject to Rule 13d-1(e)) or sell shares of
EBSC in the open market, in privately negotiated transactions or otherwise.
Item 5. Interest in Securities of the Issuer
(a)
<TABLE>
<CAPTION>
----------------------------------
NUMBER
OF
ENTITY SHARES % OF CLASS
----------------------------------
<S> <C> <C>
SIF I 1,216,545 7.82%
----------------------------------
SIF I GP 1,216,545 7.82%
----------------------------------
CBO II 735,624 4.73%
----------------------------------
CBO II GP 735,624 4.73%
----------------------------------
PPM 1,952,169 12.55%
----------------------------------
</TABLE>
Page 7 of 11
<PAGE>
(b)
<TABLE>
<CAPTION>
-----------------------------------------------------------
SOLE SHARED SOLE SHARED
VOTING VOTING DISPOSITIVE DISPOSITIVE
ENTITY POWER POWER POWER POWER
-----------------------------------------------------------
<S> <C> <C> <C> <C>
SIF I 0 1,216,545 0 1,216,545
-----------------------------------------------------------
SIF I GP 0 1,216,545 0 1,216,545
-----------------------------------------------------------
CBO II 0 735,624 0 735,624
-----------------------------------------------------------
CBO II GP 0 735,624 0 735,624
-----------------------------------------------------------
PPM 0 1,952,169 0 1,952,169
-----------------------------------------------------------
</TABLE>
(c) Schedule II to this Schedule 13D contains a list of transactions by
PPM in shares of EBSC during the past 60 days.
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
PPM is not a party to any contract, arrangement, understanding or
relationship with any other entity or individual with respect to the Securities.
Item 7. Material to Be Filed as Exhibits
N/A
Page 8 of 11
<PAGE>
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.
Date: September 20, 1999
PPM AMERICA SPECIAL INVESTMENTS PPM AMERICA SPECIAL INVESTMENTS
FUND, L.P. CBO II, L.P.
By: PPM America, Inc. PPM America, Inc.
As Attorney-in-Fact As Attorney-in-Fact
By:/s/ Stuart Lissner By:/s/ Stuart Lissner
-------------------------- --------------------------
Stuart Lissner Stuart Lissner
Managing Director Managing Director
PPM AMERICA FUND MANAGEMENT PPM AMERICA, INC.
GP, INC.
By:/s/ Stuart Lissner By:/s/ Stuart Lissner
-------------------------- ---------------------------
Stuart Lissner Stuart Lissner
Managing Director Managing Director
PPM AMERICA CBO II MANAGEMENT
COMPANY
By: PPM MGP (Bermuda), Ltd.
Its Managing General Partner
By:/s/ Stuart Lissner
--------------------------
Stuart Lissner
Vice President
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative (other than an executive
officer or general partner of this filing person), evidence of the
representative's authority to sign on behalf of such person shall be riled with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
Page 9 of 11
<PAGE>
SCHEDULE I
CERTAIN INFORMATION CONCERNING THE PARENT COMPANIES OF PPM
PPM America's sole stockholder is PPM Holdings, Inc., a Delaware
corporation ("Holdings"). The address of the principal executive offices of
Holdings is 225 West Wacker Drive, Suite 1200, Chicago, IL 60606. Holding's
directors and officers are as follows:
Directors: Officers:
Russell W. Swansen Russell W. Swansen (President)
F. John Stark, III F. John Stark, III (Secretary)
Mark B. Mandich Mark B. Mandich (Treasurer)
To the knowledge of PPM, no disclosure under Item 2(d) or 2(e) is required with
respect to Holdings.
Holding's sole stockholder is Prudential Portfolio Managers, Ltd., a UK
limited company ("Portfolio"). The address of the principal executive offices of
Portfolio is 142 Holborn Bars, London EC1N 2NH. Portfolio's directors and
(officers) are as follows:
D. A. Higgs (Chairman)
A. P. Rutherford (Secretary)
R. P. Baker-Bates
J. C. Betteridge
M. J. Denham
R. J. Dennis
J. C. Gell
P. N. C. Johns
H. M. Jones
M. R. Moore
J. W. Morgan
N. C. W. Mustoe
R. W. Swansen
N. H. C. Thompson
Wong Sai Hung
To the knowledge of PPM, no disclosure under Item 2(d) or 2(e) is required with
respect to Portfolio.
Prudential Corporation plc, a UK public limited company ("Prudential"), is
the sole shareholder of Portfolio and the ultimate parent of PPM. The address of
the principal executive offices of Prudential is Laurence Pountney Hill, London
EC4R OEU. Prudential's directors and (officers) are as follows:
Sir Martin Jacomb (Chairman)
M. D. Abrahams (Deputy Chairman)
Sir Peter Davis (Chief Executive)
J. W. Bloomer (Chief Executive Designate)
P. M. Maynard (Secretary)
Sir David Barnes
K. L. Bedell-Pearce
J. A. Burdus
L. G. Cullen
D. A. Higgs
B. A. Macaskill
R. O. Rowley
A. D. Stewart
M. E. Tucker
To the knowledge of PPM, no disclosure under Item 2(d) or 2(e) is required with
respect to Prudential.
Page 10 of 11
<PAGE>
SCHEDULE II
TRANSACTIONS IN THE SECURITIES DURING THE PAST 60 DAYS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------
# OF SECURITIES PURCHASE PRICE
PURCHASER DATE PURCHASED PER SHARE DESCRIPTION
- ------------------------------------------------------------------
<S> <C> <C> <C> <C>
SIF I 7-15-99 29,561 $ 7.125 Note 1
- ------------------------------------------------------------------
SIF I 7-30-99 17,847 $ 6.25 Note 1
- ------------------------------------------------------------------
SIF I 8-13-99 3,555 $ 5.75 Note 2
- ------------------------------------------------------------------
SIF I 8-30-99 1,340 $7.1875 Note 2
- ------------------------------------------------------------------
CBO II 7-15-99 34,439 $ 7.125 Note 1
- ------------------------------------------------------------------
CBO II 7-30-99 20,453 $ 6.250 Note 1
- ------------------------------------------------------------------
</TABLE>
Note 1: Securities were purchased on the open market.
Note 2: Securities were distributed to SIF I in partial satisfaction of PPM's
claims against EBSC in EBSC's federal bankruptcy reorganization
proceeding. The purchase price per share represents the market value
of the Security as of the date of distribution to PPM.
Page 11 of 11
