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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest
Event Reported): December 6, 1994
GIBSON GREETINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware 2-82990 52-1242761
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
2100 Section Road, Cincinnati, Ohio 45237
(Address of principal executive offices)
Registrant's telephone number, including area code:(513) 841-6600
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INFORMATION TO BE INCLUDED IN THE REPORT
Items 1, 2, 3, 4, 6 and 8 are not applicable and are omitted from
this report.
Item 5. Other Events
The press release of Gibson Greetings, Inc., dated
December 6, 1994, is filed as an exhibit to and incorporated by
reference in this Current Report on Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(a) Financial Statements of Business Acquired.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits
Number Description
1 Press Release dated December 6, 1994
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SIGNATURES
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: December 7, 1994 GIBSON GREETINGS, INC.
By /s/ Anthony L. Forcellini
Anthony L. Forcellini
Vice President, Controller and
Treasurer
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CONTACT: Karen Durand RELEASE DATE: December 6, 1994
Director, Investor Relations
(513) 841-6986
FOR IMMEDIATE RELEASE
CINCINNATI, OHIO, December 6, 1994 -- Gibson Greetings, Inc. (NASDAQ:GIBG)
said that its customer F&M Distributors, Inc. (F&M) today announced that
it had filed for protection under Chapter 11 of the Bankruptcy Code. F&M
represented less than 3% of Gibson's revenues in 1993.
F&M has stated that it will continue to operate while it develops a
reorganization plan.
As of October 31, 1994 Gibson's books reflected approximately $7.7 million
of outstanding F&M trade receivables, approximately $2.6 million of fixtures
located in F&M stores and approximately $6.3 million of deferred costs
relating to a long-term F&M sales agreement. Gibson's accounting treatment
of these various items will depend upon future developments at F&M. Gibson
noted that at this time it is too early to speculate about possible changes
in its sales volume as the result of F&M's actions.
While it is not possible without additional information to accurately determine
the impact on earnings for its fourth quarter ending December 31, 1994,
Gibson expects to record a significant charge against its earnings to reflect
the exposure resulting from the F&M bankruptcy filing.
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