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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 June 29, 1995
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KRAUSE'S FURNITURE, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-17868 77-0310773
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
5980 Stoneridge Drive, Suite 109, Pleasanton, California 94588
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, includiing area code: (510) 460-6201
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(Former name or former address, if changed since last report)
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Item 5. Other Events
The Company reported in a news release dated June 29, 1995, Board approval
of a stock repurchase plan and a one-for-three reverse stock split.
On June 29, 1995, the Company's Board of Directors authorized the repurchase
of up to 1.2 million shares of the Company's currently outstanding common
stock. The Company expects that the shares would be purchased from time to time
in the open market. Currently, the Company has 12,244,953 shares of common
stock outstanding. The Company also has outstanding 364,780 shares of Series A
Preferred Stock which is convertible into 3,647,800 shares of the Company's
common stock.
The Company's Board of Directors also declared a one-for-three reverse
split, subject to stockholders approval, of the Company's common. On July 25,
1995, the Company's stockholders approved the reverse stock split, which will
become effective August 1, 1995.
The reverse split will reduce common shares outstanding to 4,081,651, and
will reduce to approximately 1,215,900 the number of common shares convertible
from the Company's Series A Preferred Stock. The Bank of Boston acts as
registrar and transfer agent for Krause's Furniture, Inc.
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.
Date: July 25, 1995
KRAUSE'S FURNITURE, INC.
By:__________________________
Robert G. Sharpe
Executive Vice President
