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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 2, 2000
JG Industries, Inc.
(Exact name of registrant as specified in its charter)
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Illinois 001-00258 36-1141010
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification Number)
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5630 West Belmont
Chicago, Illinois 60634
(Address of principal executive offices and zip code)
(773) 481-5410
(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
The registrant is filing a press release under Item 7(c).
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements: Not applicable
(b) Pro Forma Financial Information: Not applicable
(c) Exhibits:
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Exhibit No. Document
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99 Press Release
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SIGNATURE
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.
JG INDUSTRIES, INC.
By: /s/ Clarence Farrar
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Clarence Farrar
President
February 2, 2000
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EXHIBIT INDEX
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Exhibit No. Document Page
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99 Press Release 1
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Exhibit 99
J.G. INDUSTRIES TO SELL REAL ESTATE INTEREST
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TO AMES AND LIQUIDATE
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J.G. Industries has entered into a Sale - Purchase Agreement to sell to
Ames Realty II, a subsidiary of Ames Department Stores, its interests in the
leased real estate where seven of the eight Goldblatt's Department Stores are
located for $7.6 million. Following this sale, J.G. Industries will dissolve and
liquidate its remaining assets. Currently, J.G. Industries expects that holders
of common stock of J.G. Industries (including holders of J.G. Industries
preferred stock which is convertible into common stock) will receive in excess
of $1.00 in cash for each share of common stock. However, changes that occur
during the course of this liquidation, the inability to sell assets for
anticipated proceeds and/or unanticipated liabilities that arise during the
liquidation could cause the anticipated payments to holders of J.G. Industries
stock to vary significantly. Further, there are customary conditions to the
closing of the sale of real estate interests to Ames. The failure of this sale
to close for any reason would have an adverse effect on the planned liquidation.
J.G. Industries does not anticipate distributing any amount to shareholders in
this liquidation prior to September 30, 2000 and the liquidation could take
significantly longer.
The foregoing contains forward-looking statements within the meaning of the
Private Securities Litigations Reform Act of 1995. Actual results may differ
materially from the anticipated results as a result of certain risks and
uncertainties, including those discussed above and other risks detailed from
time to time in the Company's Securities and Exchange Commission filings.
