UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. _1__)*
THE ELDER-BEERMAN STORES CORP.
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(Name of Issuer)
COMMON
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(Title of Class of Securities)
284 470-10-1
------------------------------
(CUSIP Number)
David Nierenberg, The D3 Family Fund, 19605 NE 8th St., Camas, WA 98607
360-604-8600
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(Name, Address and Telephone Number
of Person Authorized to Receive
Notices and Communications)
2/24/00
-------------------------------
(Date of Event which Requires
Filing of this Statement)
*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 the disclosures provided in a prior cover page.
The information required in 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).
1 of 11
<PAGE>
SCHEDULE 13D
------------
CUSIP No. 284 470-10-1 Page 2 of 11
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The D3 Family Fund, L.P. (David Nierenberg is President of the General
Partner, which is Nierenberg Investment Management Company.)
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
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3) SEC USE ONLY _____________________________________________________________
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
Washington
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7) SOLE VOTING POWER
820,500 common shares (5.5%)
NUMBER ------------------------------------------------------
OF 8) SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ------------------------------------------------------
BY 9) SOLE DISPOSITIVE POWER
EACH
REPORTING 820,500
PERSON ------------------------------------------------------
WITH: 10) SHARED DISPOSITIVE POWER
0
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Aggregate amount owned is 900,000 shares (6.0%)
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12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
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14) TYPE OF REPORTING PERSON*
PN
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<PAGE>
SCHEDULE 13D
------------
CUSIP No. 284 470-10-1 Page 3 of 11
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Haredale, Ltd.
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
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3) SEC USE ONLY _____________________________________________________________
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
The Bahamas
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7) SOLE VOTING POWER
20,000 common shares (0.1%)
NUMBER ------------------------------------------------------
OF 8) SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ------------------------------------------------------
BY 9) SOLE DISPOSITIVE POWER
EACH
REPORTING 20,000
PERSON ------------------------------------------------------
WITH: 10) SHARED DISPOSITIVE POWER
0
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Aggregate amount owned is 900,000 shares (6.0%)
- --------------------------------------------------------------------------------
12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
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14) TYPE OF REPORTING PERSON*
CO
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<PAGE>
SCHEDULE 13D
------------
CUSIP No. 284 470-10-1 Page 4 of 11
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James Henry Hildebrandt
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
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3) SEC USE ONLY _____________________________________________________________
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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7) SOLE VOTING POWER
6,500 common shares (0.0%)
NUMBER ------------------------------------------------------
OF 8) SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ------------------------------------------------------
BY 9) SOLE DISPOSITIVE POWER
EACH
REPORTING 6,500
PERSON ------------------------------------------------------
WITH: 10) SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Aggregate amount owned is 900,000 shares (6.0%)
- --------------------------------------------------------------------------------
12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
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14) TYPE OF REPORTING PERSON*
IN
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<PAGE>
SCHEDULE 13D
------------
CUSIP No. 284 470-10-1 Page 5 of 11
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Toxford Corporation
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
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3) SEC USE ONLY _____________________________________________________________
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
Channel Islands, British Isles
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7) SOLE VOTING POWER
3,000 common shares (0.0%)
NUMBER ------------------------------------------------------
OF 8) SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ------------------------------------------------------
BY 9) SOLE DISPOSITIVE POWER
EACH
REPORTING 3,000
PERSON ------------------------------------------------------
WITH: 10) SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Aggregate amount owned is 900,000 shares (6.0%)
- --------------------------------------------------------------------------------
12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
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14) TYPE OF REPORTING PERSON*
CO
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<PAGE>
SCHEDULE 13D
------------
CUSIP No. 284 470-10-1 Page 6 of 11
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Nierenberg Family 1993 Trust
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
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3) SEC USE ONLY _____________________________________________________________
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Washington
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7) SOLE VOTING POWER
50,000 common shares (0.3%)
SHARES ------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 0
------------------------------------------------------
EACH
9) SOLE DISPOSITIVE POWER
REPORTING
50,000
PERSON ------------------------------------------------------
WITH 10) SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Aggregate amount owned is 900,000 shares (6.0%)
- --------------------------------------------------------------------------------
12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
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14) TYPE OF REPORTING PERSON*
OO
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<PAGE>
Page 7 of 11
Item 1. Security and Issuer
Common stock of The Elder-Beerman Stores Corp. (EBSC),
3155 El-Bee Road, Dayton, Ohio 45439.
Item 2. Identity and Background
The D3 Family Fund, L.P., a Washington State partnership, whose
principal business is investing in the equities of undervalued
public micro-cap companies. Located at 19605 N.E. 8th St., Camas,
Washington 98607. No convictions or administrative proceedings as
described in Item 2(d) and (e).
Item 3. Source and Amount of Funds or Other Consideration
Source of funds is money invested in the partnership by its limited
partners. Aggregate amount invested in EBSC shares purchased by
the partnership is $4,787,989.
Item 4. Purpose of Transaction
D3 has reviewed carefully the amended Form 13D filing made on
February 24, 2000 by PPM America. D3 is in substantial, though not
complete, agreement with PPM's latest requests.
Our sole disagreement with PPM is that we no longer advocate the
immediate sale of EB as our primary objective because an immediate
sale might not produce the best possible valuation.
We would prefer, instead, to see EB's Board of Directors quickly
replace EB's CEO, COO and CFO with executives more likely to restore
and build shareholder value. As PPM's new filing demonstrates, these
three executives no longer enjoy the support of EB's largest share-
holders. Keeping them in place against the will of the company's
prinicipal owners virtually holds the company hostage, a situation
the outside directors should not risk.
If EB's outside directors do not quickly replace management, D3 will
vote its shares against management's nominees for the board at the
next, and at future, annual meetings. And, without collaborating with
other shareholders, we would urge all shareholders to exercise their
legal and constitutional rights the same way. We would study with
considerable interest any proxy from PPM or from other shareholders
proposing a more shareholder-oriented slate of directors.
D3 supports efforts to accelerate and complete EB's stalled share
repurchase program. With the shares falling to only 1/3 of book
value, EB;s foot-dragging is unacceptable.
Only if efforts to change EB's senior management and board were to
fail would D3 support the immediate auction of EB. Immediate sale,
however disappointing, would be preferable to continued stagnation.
Item 5. Interest in Securities of the Issuer
(a,b) D3 owns, and has sole voting and dispositive power over, 820,500
common shares of EBSC (5.5%). In addition, 29,500 more common
shares of EBSC are owned by three foreign investors whose funds
are managed by Mr. Nierenberg: Haredale, a Bahamian corporation
which owns 20,000 shares; James Henry Hildebrandt, a Canadian
citizen who owns 6,500 shares; and Toxford Corporation, a
Channel Islands corporation which owns 3,000 shares. In
addition, The Nierenberg Family 1993 Trust, of which Mr.
Nierenberg is trustee, owns 50,000 EBSC shares.
(c) D3's transactions in the last 60 days were:
# of
Date Shares Purchased Source Share Price
---- ---------------- ------ -----------
2/17/00 45,000 McDonald & Co. 4.625
2/24/00 10,000 McDonald & Co. 5.0625
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
N/A for D3.
Item 7. Material to be Filed as Exhibits
N/A
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.
February 25, 2000 DAVID NIERENBERG
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Date David Nierenberg
President
Nierenberg Investment Management
Company, Inc., the General Partner
Of The D3 Family Fund, L.P.
<PAGE>
Page 8 of 11
Item 1. Security and Issuer
Common stock of The Elder-Beerman Stores Corp. (EBSC),
3155 El-Bee Road, Dayton, Ohio 45439.
Item 2. Identity and Background
(a) Haredale Ltd., a Bahamian corporation.
(b) P.O. Box N-4465, Nassau, New Providence, The Bahamas.
(c) Haredale is in the investment business at the address above.
(d) None
(e) None
(f) The Bahamas.
Item 3. Source and Amount of Funds or Other Consideration
Haredale owns, and Mr. Nierenberg has sole voting and dispositive
power over, its 20,000 shares.
Item 4. Purpose of Transaction
Same as Item 4 on Page 7.
Item 5. Interest in Securities of the Issuer
(a,b) Haredale owns, and Mr. Nierenberg has sole voting and
dispositive power over, its 20,000 shares.
(c) None
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Haredale pays Mr. Nierenberg an annual management fee and a share
of its net profits for his personal management of its accounts.
Item 7. Material to be Filed as Exhibits
N/A
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.
February 25, 2000 DAVID NIERENBERG
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Date David Nierenberg
Authorized to trade for
Haredale, Ltd.
<PAGE>
Page 9 of 11
Item 1. Security and Issuer
Common stock of The Elder-Beerman Stores Corp. (EBSC),
3155 El-Bee Road, Dayton, Ohio 45439.
Item 2. Identity and Background
(a) James Henry Hildebrandt, an individual who is a citizen of Canada,
resident in Hong Kong.
(b) c/o Bain & Company, 33rd Floor The Center, 99 Queen's Road Central
Hong Kong.
(c) Mr. Hildebrandt is in the management consulting business.
(d) None
(e) None
(f) Canada
Item 3. Source and Amount of Funds or Other Consideration
Mr. Hildebrandt owns, and Mr. Nierenberg has sole voting and
dispositive power over, his 6,500 shares.
Item 4. Purpose of Transaction
Same as Item 4 on Page 7.
Item 5. Interest in Securities of the Issuer
(a,b) Mr. Hildebrandt owns, and Mr. Nierenberg has sole voting and
dispositive power over, his 6,500 shares.
(c) None
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Mr. Hildebrandt pays Mr. Nierenberg an annual management fee and a
share of its net profits for his personal management of its accounts.
Item 7. Material to be Filed as Exhibits
N/A
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.
February 25, 2000 DAVID NIERENBERG
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Date David Nierenberg
Authorized to trade for
John Henry Hildebrandt
<PAGE>
Page 10 of 11
Item 1. Security and Issuer
Common stock of The Elder-Beerman Stores Corp. (EBSC),
3155 El-Bee Road, Dayton, Ohio 45439.
Item 2. Identity and Background
(a) Toxford Corporation, a Channel Islands corporation.
(b) P.O. Box 3048, St. Andrews House, Le Bordage, St. Peter Port,
Guernsey, Channel Islands, British Isles.
(c) Toxford Corporation is in the investment business at the address
above.
(d) None
(e) None
(f) Channel Islands, British Isles.
Item 3. Source and Amount of Funds or Other Consideration
Toxford Corporation owns, and Mr. Nierenberg has sole voting and
dispositive power over, its 3,000 shares.
Item 4. Purpose of Transaction
Same as Item 4 on Page 7.
Item 5. Interest in Securities of the Issuer
(a,b) Toxford Corporation owns, and Mr. Nierenberg has sole voting
and dispositive power over, its 3,000 shares.
(c) None
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Toxford Corporation pays Mr. Nierenberg an annual management fee and a
share of its net profits for his personal management of its accounts.
Item 7. Material to be Filed as Exhibits
N/A
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.
February 25, 2000 DAVID NIERENBERG
- ----------------- -----------------------------------------
Date David Nierenberg
Authorized to trade for
Toxford Corporation
<PAGE>
Page 11 of 11
Item 1. Security and Issuer
Common stock of The Elder-Beerman Stores Corp. (EBSC),
3155 El-Bee Road, Dayton, Ohio 45439.
Item 2. Identity and Background
(a) The Nierenberg Family 1993 Trust, a revocable trust.
(b) 19605 N.E. 8th Street, Camas, Washington 98607
(c) A Trust
(d) None
(e) None
(f) United States
Item 3. Source and Amount of Funds or Other Consideration
Shares were purchased using bank borrowings.
Item 4. Purpose of Transaction
Same as Item 4 on Page 7.
Item 5. Interest in Securities of the Issuer
(a,b) The Nierenberg Family 1993 Trust owns, and Mr. Nierenberg has
sole voting and dispositive power over, its 50,000 shares.
(c) None
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
N/A
Item 7. Material to be Filed as Exhibits
N/A
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.
February 25, 2000 DAVID NIERENBERG
- ----------------- -----------------------------------------
Date David Nierenberg
Authorized to trade for
The Nierenberg Family 1993 Trust
