<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934*
Tarrant Apparel Group
-----------------------------------
(Name of Issuer)
Common Stock, par value $0.00 per share
--------------------------------------------
(Title of Class of Securities)
876289 109
------------------
(CUSIP Number)
October 22, 1998
-------------------------------
(Date of Event Which Requires Filing of This Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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
disclosure 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 (the "Act") or otherwise subject to the liabilities of the section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP Number 876289 109 13G
- ------------------------------------------------------------------------------
1. Names of Reporting Persons or I.R.S. Limited Direct Associates, L.P.
Identification Nos. of Above Persons I.D. No. 31-1251727
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [X]
- ------------------------------------------------------------------------------
3. S.E.C. Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
- ------------------------------------------------------------------------------
Number of 5. Sole Voting Power
0
Shares -----------------------------------------------------------
Beneficially 6. Shared Voting Power
1,000,000
Owned by
-----------------------------------------------------------
Each
7. Sole Dispositive Power
Reporting 0
-----------------------------------------------------------
Person
8. Shared Dispositive Power
With 1,000,000
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by
Each Reporting Person 1,000,000
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares
[ ]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
7.3%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
PN
- ------------------------------------------------------------------------------
Page 2 of 9
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CUSIP Number 876289 109 13G
- ------------------------------------------------------------------------------
1. Names of Reporting Persons or I.R.S. Limited Direct, Inc.
Identification Nos. of Above Persons I.D. No. 51-0301511
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [X]
- ------------------------------------------------------------------------------
3. S.E.C. Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
- ------------------------------------------------------------------------------
Number of 5. Sole Voting Power
0
Shares -----------------------------------------------------------
Beneficially 6. Shared Voting Power
1,000,000
Owned by
-----------------------------------------------------------
Each
7. Sole Dispositive Power
Reporting 0
-----------------------------------------------------------
Person
8. Shared Dispositive Power
With 1,000,000
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by
Each Reporting Person 1,000,000
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares
[ ]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
7.3%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
CO
- ------------------------------------------------------------------------------
Page 3 of 9
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CUSIP Number 876289 109 13G
- ------------------------------------------------------------------------------
1. Names of Reporting Persons or I.R.S. The Limited, Inc.
Identification Nos. of Above Persons I.D. No. 31-1029810
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [X]
- ------------------------------------------------------------------------------
3. S.E.C. Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
- ------------------------------------------------------------------------------
Number of 5. Sole Voting Power
0
Shares -----------------------------------------------------------
Beneficially 6. Shared Voting Power
1,000,000
Owned by
-----------------------------------------------------------
Each
7. Sole Dispositive Power
Reporting 0
-----------------------------------------------------------
Person
8. Shared Dispositive Power
With 1,000,000
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by
Each Reporting Person* 1,000,000
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares
[ ]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
7.3%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
CO
- ------------------------------------------------------------------------------
- ----------------
* Limited Direct, Inc. is the sole general partner of Limited Direct
Associates, L.P. ("LDA") and The Limited, Inc. is the owner of 100% of
the outstanding capital stock of Limited Direct, Inc. Accordingly, The
Limited, Inc. may be deemed to share investment and voting power with
respect to the shares of common stock, par value $0.00, of Tarrant
Apparel Group (the "Issuer") beneficially owned by LDA and Limited
Direct, Inc. The Limited, Inc. disclaims beneficial ownership of all
such shares.
Page 4 of 9
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CUSIP Number 876289 109 13G
CONTINUATION PAGES TO SCHEDULE 13G
FILED BY
LIMITED DIRECT ASSOCIATES, L.P.
LIMITED DIRECT, INC.
THE LIMITED, INC.
(the "Reporting Persons")
This Schedule 13G amends the Schedule 13D previously filed by the Reporting
Persons with respect to shares of the Issuer.
Item 1(a) Name of Issuer:
Tarrant Apparel Group
Item 1(b) Address of Issuer's Principal Executive Offices:
3151 East Washington Blvd.
Los Angeles, CA 90023
Item 2(a) Name of Persons Filing:
Limited Direct Associates, L.P.
Limited Direct, Inc.
The Limited, Inc.
Item 2(b) Address of Principal Business Office:
Limited Direct Associates, L.P
Three Limited Parkway
Columbus, OH 43216
Limited Direct, Inc.
Three Limited Parkway
Columbus, OH 43216
The Limited, Inc.
Three Limited Parkway
Columbus, OH 43216
Item 2(c) Citizenship:
Page 5 of 9
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CUSIP Number 876289 109 13G
Limited Direct Associates, L.P. ("LDA"), a Delaware limited
partnership
Limited Direct, Inc., a Delaware corporation and general partner
of LDA
The Limited, Inc., a Delaware corporation and ultimate parent of
LDA
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
876289 109
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-
2(b), check whether the person filing is a:
<TABLE>
<CAPTION>
<S> <C> <C>
(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with (S) 240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with (S) 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with (S) 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
</TABLE>
Page 6 of 9
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CUSIP Number 876289 109 13G
<TABLE>
<CAPTION>
<S> <C> <C>
(j) [ ] Group, in accordance with (S) 240.13d-1(b)(1)(ii)(J).
</TABLE>
If this statement is filed pursuant (S) 240.13d-1(c), check this
box [X].
Item 4. Ownership
(a) Amount Beneficially Owned
Reference is made to Row 9 of each cover page.
(b) Percent of Class:
Reference is made to Row 11 of each cover page.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: Reference
is made to Row 5 of each cover page.
(ii) shared power to vote or to direct the vote: Reference
is made to Row 6 of each cover page.
(iii) sole power to dispose or to direct the disposition
of: Reference is made to Row 7 of each cover page.
(iv) shared power to dispose or to direct the disposition
of: Reference is made to Row 8 of each cover page.
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
Not applicable.
Page 7 of 9
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CUSIP Number 876289 109 13G
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of changing
or influencing the control of the issuer of the securities and
were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
Page 8 of 9
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CUSIP Number 876289 109 13G
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.
Date: October 28, 1998
LIMITED DIRECT ASSOCIATES, L.P.
By: LIMITED DIRECT, INC., its
general partner
By /s/ Samuel P. Fried
----------------------------------------
Name: Samuel P. Fried
Title: Vice President
LIMITED DIRECT, INC.
By /s/ Samuel P. Fried
----------------------------------------
Name: Samuel P. Fried
Title: Vice President
THE LIMITED, INC.
By /s/ Samuel P. Fried
-----------------------------------------
Name: Samuel P. Fried
Title: Vice President
Page 9 of 9
