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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1
TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
LOT$OFF CORPORATION
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(Name of Issuer)
Common Stock, Par Value $.01
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(Title of Class of Securities)
545674103
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(CUSIP NUMBER)
Patrick Daugherty, Esq.; NationsBank Corporate Center,
Charlotte, North Carolina 28202; Telephone (704) 417-3101
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
November 21, 1997
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
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SCHEDULE 13D
(Cover Page -- Part II)
CUSIP NO. 545674103
<TABLE>
<S> <C>
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1) Name of Reporting Person/S.S. or I.R.S. Identification No. of Above Person
Millbrook Partners L.P.
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2) Check the Appropriate Box if a Member of a Group
(a)
(b)
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3) SEC Use Only
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4) Source of Funds: Not applicable
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5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e)
[ ]
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6) Citizenship or Place of Organization: Delaware
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Number of Shares 7) Sole Voting Power: 204,308
Beneficially Owned
By Each Reporting ----------------------------------
Person With 8) Shared Voting Power:
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9) Sole Dispositive Power: 204,308
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10) Shared Dispositive Power:
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 204,308
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12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
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13) Percent of Class Represented by Amount in Row (11): 17.98%
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14) Type of Reporting Person: PN
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ITEM 1. SECURITY AND ISSUER.
This Amendment No. 1 to Schedule 13D dated December 1, 1997 (the
"Amendment") filed by the Partnership amends and supplements the
information set forth in the Schedule 13D filed by the Partnership on
November 7, 1997 (the "Schedule 13D"). This Amendment relates to the
Common Stock of LOT$OFF Corporation, a Delaware corporation (the
"Company"), and is filed pursuant to Section 13(d) of the Securities
Exchange Act of 1934, as amended. Capitalized terms used herein without
definition shall have the meanings assigned to such terms in the
Schedule 13D.
The address of the principal executive offices of the Company is 8750
Tesoro Drive, San Antonio, Texas 78217.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Partnership acquired its shares of Common Stock upon conversion of
102,154 shares of series A preferred stock, par value $.01 per share
("Preferred Stock"), of the Company.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the date of this Amendment, the Partnership beneficially
owned 204,308 shares of Common Stock, constituting 17.98% of
the outstanding Common Stock.
As of the date of this Amendment, Mathes beneficially owned,
as the sole general partner of the Partnership, 204,308 shares
of Common Stock, constituting 17.98% of the outstanding Common
Stock.
(b) Mathes has the sole power to vote and the sole power to
dispose of the 204,308 shares of the Common Stock that he
beneficially owns.
(c) Except as disclosed on Schedule A to this Amendment
(incorporated herein by this reference thereto), there have
been no transactions in shares of the Common Stock effected by
or for the account of the Partnership during the past 60 days.
(d) Not applicable.
(e) Not applicable.
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SIGNATURES
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.
Dated: December 1, 1997
MILLBROOK PARTNERS L.P.
By: /s/ Mark M. Mathes
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Mark M. Mathes
General Partner
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SCHEDULE A
The Partnership acquired its shares of Common Stock in open market
transactions as follows:
DATE TRANSACTION PRICE PER SHARE
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11/21/97 Converted 51,624 shares of Preferred Stock Not applicable
11/21/97 Sold 95,900 shares of Common Stock $ 7.7565
11/21/97 Sold 79,000 shares of Common Stock $ 7.6582
11/26/97 Converted 88,500 shares of Preferred Stock Not applicable
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