EVANS INC
NT 10-K, 1999-05-28
APPAREL & ACCESSORY STORES
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                    SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C. 20549

                               FORM 12b-25

                       NOTIFICATION OF LATE FILING

(Check One):  |_| Form 10-K |X| Form 20-F |_| Form 11-K |_| Form 10-Q |_| Form
N-SAR


For Period Ended:
__2/27/99_________

     [ ] Transition  Report on Form 10-K [ ] Transition  Report on Form 20-F [ ]
     Transition  Report  on Form  11-K [ ]  Transition  Report  on Form 10-Q [ ]
     Transition Report on Form N-SAR

     For the Transition Period Ended:_________________________
- ----------------------------------------------------------------------
Read Instruction (on back page) Before Preparing Form. Please Print or Type.

Nothing  in this  form  shall be  construed  to imply  that the  Commission  has
verified any information contained herein.
- ------------------------------------------------------------------------
If the notification  relates to a portion of the filing checked above,  identify
the item(s) to which the notification relates:


PART I -- REGISTRANT INFORMATION

Full Name of Registrant

Evans, Inc.

Former Name if Applicable

N/A

Address of Principal Executive Office (Street and Number)

36 S. State Street
<PAGE>

City, State and Zip Code

Chicago, IL  60603

PART II -- RULE 12b-25(b) AND (c)

If the subject report could not be filed without  unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check appropriate box.)

  |X| (a) The reasons  described in  reasonable  detail in Part III of this form
could not be eliminated without unreasonable effort or expense;

  |_| (b) The subject annual report,  semi-annual  report,  transition report on
Form 10-K, Form 20-F, Form 11-K, Form N-SAR, or portion  thereof,  will be filed
on or before the fifteenth  calendar day following the  prescribed  due date; or
the  subject  quarterly  report or  transition  report on Form 10-Q,  or portion
thereof  will be filed  on or  before  the  fifth  calendar  day  following  the
prescribed due date; and

  |_| (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.

PART III -- NARRATIVE

State below in reasonable  detail why the Form 10-K, 11-K, 20-F 10-Q,  N-SAR, or
the  transition  report  or  portion  thereof,  could  not be filed  within  the
prescribed time period.(Attach Extra Sheets if Needed.)

The financial  statements of Evans,  Inc. (the Registrant) will not be completed
by May 28,  1999,  the last day for filing of its annual  report on Form 10K for
the year ended February 27, 1999.

The registrant is in negotiations  with its lenders for modifications to certain
terms of its loan agreements. These modifications will have a material effect on
the Registrants  financial statement disclosures for the year ended February 27,
1999.  Due to the time  required  to  produce  financial  data and other  needed
information, the Registrant was unable to complete the formal loan modifications
before the due date of the annual report on Form 10K.

PART IV--OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this
notification
Deanna Harnett              312           855-2167
(Name)                  (Area Code)     (Telephone Number)
<PAGE>

(2) Have all other  periodic  reports  required under Section 13 or 15(d) of the
Securities  Exchange Act of 1934 or Section 30 of the Investment  Company Act of
1940  during  the  preceding  12  months  or for such  shorter  period  that the
registrant was required to file such report(s) been filed?  If the answer is no,
identify report(s).

|X| Yes  |_| No

(3) Is it anticipated that any significant  change in results of operations from
the  corresponding  period for the last  fiscal  year will be  reflected  by the
earnings statements to be included in the subject report or portion thereof?

|X| Yes  |_| No

If so, attach an explanation of the  anticipated  change,  both  narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.

For fiscal year 1998 the Company  experienced a net loss of $835,000,  while for
fiscal 1999 the Company expects to incur a net loss in excess of $4 million. The
increase  in the  loss  for  fiscal  1999  as  compared  to  fiscal  1998 is due
principally  to an $824,000  decrease  in total  revenues as a result of another
warm winter an increase in occupancy and buying costs, and a $1,730,000 increase
in selling and  general  expenses  primarily  related to  increased  payroll and
benefit  expenses.  In addition the Company  sold  certain  assets for a gain in
fiscal 1998 and a loss in fiscal.  The Company has also begun  discussions  with
its  lender to modify  the  financial  covenants  contained  in its  loan/credit
agreement.


================================================================================
Evans, Inc.
(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.


Date _____________________________________
By_____________________________________________________


INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly  authorized  representative.  The name and title of the person
signing  the form  shall  be typed or  printed  beneath  the  signature.  If the
statement is signed on behalf of the registrant by an authorized  representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
<PAGE>

- ------------------------------------ ATTENTION ---------------------------------
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See18 U.S.C. 1001).
                              GENERAL INSTRUCTIONS

1. This form is required by Rule  12b-25 of the  General  Rules and  Regulations
under the Securities Exchange Act of 1934.

2. One signed  original and four  conformed  copies of this form and  amendments
thereto must be completed and filed with the Securities and Exchange Commission,
Washington,  D.C.  20549,  in accordance  with Rule 0-3 of the General Rules and
Regulations  under the Act. The information  contained in or filed with the form
will be made a matter of public record in the Commission files.

3. A manually signed copy of the form and amendments thereto shall be filed with
each  national  securities  exchange  on which  any class of  securities  of the
registrant is registered.

4.  Amendments to the  notifications  must also be filed on form 12b-25 but need
not restate  information  that has been correctly  furnished.  The form shall be
clearly identified as an amended notification.

5. ELECTRONIC FILERS. This form shall not be used by electronic filers unable to
timely file a report  solely due to  electronic  difficulties.  Filers unable to
submit a report  within  the  time  period  prescribed  due to  difficulties  in
electronic  filing  should comply with either Rule 201 or Rule 202 of Regulation
S-T or  apply  for an  adjustment  in  filing  date  pursuant  to Rule  13(b) of
Regulation S-T.



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