FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: June 17, 1998
(Date of earliest event reported)
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LEVITZ FURNITURE INCORPORATED LEVITZ FURNITURE CORPORATION
(Exact name of registrant as specified in its charter) (Exact name of registrant as specified in its charter)
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DELAWARE 1-12046 23-2351830 FLORIDA 33-1534 23-1657490
(State or (Commission File (IRS Employer (State or (Commission (IRS Employer
other Number) Identification No.) other File Number) Identification No.)
jurisdiction of jurisdiction
incorporation of incorporation)
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6111 BROKEN SOUND PARKWAY, N.W.
BOCA RATON, FLORIDA 33487-2799
(561) 994-6006
(Address including zip code, and telephone number including area code of registrants' principal executive offices)
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Item 5. Other Events.
On June 17, 1998, Levitz Furniture Corporation, a Florida
corporation ("Levitz"), issued a press release, a copy of which is attached
as an Exhibit hereto and is incorporated by reference herein, announcing
that in response to a major study of regional markets across the country,
it has decided to close thirteen stores in five markets where it lacks
market dominance and will seek to open in the next eighteen months fifteen
stores in seven markets where its competitive position is already strong.
Levitz will seek court approval in its reorganization case for these actions.
Levitz is a wholly owned subsidiary of Levitz Furniture Incorporated, a
Delaware corporation ("LFI").
Item 7. Financial Statements and Exhibits.
(a) Not Applicable
(b) Not Applicable
(c) Exhibits:
99 Press release dated June 17, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
LEVITZ FURNITURE INCORPORATED
By: /s/ Edward P. Zimmer
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Edward P. Zimmer
Vice President
Date: June 18, 1998
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
LEVITZ FURNITURE CORPORATION
By: /s/ Edward P. Zimmer
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Edward P. Zimmer
Vice President
Date: June 18, 1998
INDEX TO EXHIBITS
Exhibit
Number Exhibit
99 Press release dated June 17, 1998.
Exhibit 99
BOCA RATON, FLORIDA - June 17, 1998 - Levitz Furniture Corporation
("Levitz"), one of the nation's largest specialty retailers of furniture,
today announced the conclusions of a major study of regional markets across
the country that has been ongoing for several months. The study weighed
current and future competitive strength and current realizable real estate
values. Consequently, the company has decided to close 13 stores in 5
markets where it lacks market dominance and expects to open stores in 7
markets where its competitive position is already strong. The company will
seek court approval in its reorganization case for these actions.
Markets affected by closures are Orlando and Tampa, FL, St. Louis, MO, San
Diego, CA, and Denver, CO. Levitz will seek to open approximately 15 new
leased sites in the next eighteen-month period, primarily in the New York,
Los Angeles, Seattle and Philadelphia metropolitan areas. New sites would
be serviced from existing distribution facilities for maximum efficiency.
The company is actively reviewing several sites in the referenced markets
and will aggressively pursue opening stores in these areas. Additionally,
negotiations are close to conclusion for the relocation of the main Phoenix
store, which opened in 1963.
Contact: Mike McCreery
561-994-5151
