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) :May 3, 1995
Stuarts Department Stores, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-13184 04-2817110
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Id No.)
16 Forge Parkway, Franklin, Massachusetts 02038
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (508) 520-4540
N/A
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On May 3, 1995, Stuarts Department Stores, Inc. issued a press
release, (the "Press Release"), a copy of which is annexed hereto as
Exhibit 28-1 and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
The following Exhibit is filed herewith:
Exhibit
28-1 Press Release dated May 3, 1995.
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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 thereunto duly authorized.
STUARTS DEPARTMENT STORES, INC.
DATED :May 3, 1995 by: /s/ Antone F. Moreira
Antone F. Moreira
Executive Vice President
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EXHIBIT INDEX
Exhibit
Number Exhibit Location
28-1 Press release dated May 3, 1995 Page 5
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STUARTS REPORTS CLOSING OF FOUR STORES
FRANKLIN, MASS., May 3, 1995 -- Stuarts Department Stores, Inc.
(NASDAQ - STUS) announced today that it plans to close its
Athol, Chelsea, and Fitchburg, Massachusetts and Goffstown, New
Hampshire stores. Stuarts announced also that it is negotiating
to enter into arrangements for the sale of inventory at those
stores in connection with the closings. After the closing of
those stores, the Stuarts chain will consist of eight department
stores and one "Stuarts too" store.
Stuarts estimates that, as of April 29, 1995, the aggregate
book value, on a cost basis, of the inventory in the Athol,
Chelsea, Fitchburg and Goffstown stores was approximately $3
million. Stuarts stated that, although it can give no assurance
that the sale of the inventory will be completed, the amount
proposed to be paid to the Company pursuant to those
arrangements is subject to the completion of negotiations and is
expected to be determined based upon a store inventory.
The Company stated further that is has continued to experience
financial and liquidity difficulties and that its efforts to
date to sell the retail chain have been unsuccessful. The
Company stated that, as a result of its continued financial and
liquidity difficulties, it is considering a limited number of
alternatives available to the Company.
For further information, contact:
Mr. David Ferguson, President
508-520-4540, ext. 224
Mr. Antone F. Moreira, Executive Vice President and CFO
508-520-4540, ext. 222
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