GOLDMAN SACHS & CO
SC 13G/A, 1995-04-10
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<PAGE>
 
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                  SCHEDULE 13G
            Information Statement Pursuant to Rules 13d-1 and 13d-2
                                Amendment No. 2


                 Children's Discovery Centers of America, Inc.
              -----------------------------------------------------------
                                (Name of Issuer)



                         Common Stock, $.01 par value
                        -----------------------------------
                         (Title of Class of Securities)



                                   168757201
                                 ------------------
                                 (CUSIP Number)



     Check the following box if a fee is being paid with this statement _______.
     (A fee is not required only if the filing person:  (1) has a previous
     statement on file reporting beneficial ownership of more than five percent
     of the class of securities described in item 1: and (2) has filed no
     amendment subsequent thereto reporting beneficial ownership of five percent
     or less of such class.)  (See Rule 13d-7.)



                         (Continued on following pages)

                               Page 1 of 6 Pages
<PAGE>
 
- ----------
CUSIP NO.
 168757201
- ----------
- --------------------------------------------------------------------------------
1.   Name of Reporting Person
     S.S. or  I.R.S. Identification No. of  Above Person

     Goldman, Sachs & Co.
- --------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group

                                         (a) _____
                                         (b) _____
- --------------------------------------------------------------------------------
3.   SEC Use Only

- --------------------------------------------------------------------------------
4.   Citizenship or place of  Organization
 
                        New York
                -------------------------
Number of       5  Sole Voting Power
Shares
Beneficially                  0
Owned By           ----------------------
Each            6  Shared Voting Power
Reporting 
Person With             100,100
                   ----------------------
                7  Sole Dispositive Power

                              0
                   ----------------------
                8  Shared Dispositive Power

                        100,100
                   ----------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

                  100,100
- --------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
________________________________________________________________________________
11.  Percent of Class Representing by Amount in Row (11)

                                 2.5%
- --------------------------------------------------------------------------------
12.  Type of Reporting Person

                       BD-PN-IA
- --------------------------------------------------------------------------------

                               Page 2 of 6 Pages
<PAGE>
 
- ------------
CUSIP NO.
   168757201
- ------------
- --------------------------------------------------------------------------------
1.   Name of Reporting Person
     S.S. or I.R.S. Identification No. of Above Person

     The Goldman Sachs Group, L.P.
- --------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group

                                         (a) _____
                                         (b) _____
- --------------------------------------------------------------------------------
3.   SEC Use Only

- --------------------------------------------------------------------------------
4.   Citizenship or place of Organization
 
Delaware
- -----------------------------------------
Number of       5  Sole Voting Power
Shares
Beneficially                  0
Owned By           ----------------------
Each            6  Shared Voting Power
Reporting 
Person With             100,100
                   ----------------------
                7  Sole Dispositive Power

                              0
                   ----------------------
                8  Shared Dispositive Power

                       100,100
                   ----------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

                      100,100
- --------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

- --------------------------------------------------------------------------------
11.  Percent of Class Representing by Amount in Row (11)

                                 2.5%
- --------------------------------------------------------------------------------
12.  Type of Reporting Person

                      HC-PN
- --------------------------------------------------------------------------------

                               Page 3 of 6 Pages
<PAGE>
 
       Item 1(a).  Name of Issuer:
       ----------  ---------------
                    Children's Discovery Centers of America

     Item 1(b).  Address of Issuer's Principal Executive Offices:
                    851 Irwin Street, Suite 200
                    San Rafael, CA   94901

     Item 2(a).  Name of Person Filing:
                    The Goldman Sachs Group, L.P. and Goldman, Sachs & Co.

     Item 2(b).  Address of Principal Business Office, or, if None, Residence:
                    85 Broad Street, New York, NY   10004

     Item 2(c).  Citizenship:
                    The Goldman Sachs Group, L.P. - Delaware
                    Goldman, Sachs & Co. - New York

     Item 2(d).  Title and Class of Securities:
                    Common Stock, $.01 par value

     Item 2(e).  CUSIP Number:
               168757201

     Item 3.   If this statement is filed pursuant to Rules 13d-1(b), or 13d-
               2(b). check whether the person filing is a :

           (a).X Broker or dealer registered under Section 15 of the Act,
                    Goldman, Sachs & Co.

           (b). Bank as defined in Section 3(a)(6) of the Act,

           (c). Insurance Company as defined in Section 3(a)(19) of the Act,

           (d). Investment Company registered under Section 8 of the Investment
               Company Act,

           (e).X Investment Adviser registered under Section 203 of the
               Investment Advisers Act of 1940,
                    Goldman, Sachs & Co.

           (f). Employee Benefit Plan, Pension Fund which is subject to the
               provisions of the Employee Retirement Income Security Act of 1974
               or Endowment Fund; see 13d-1(b)(1)(ii)(F),

                               Page 4 of 6 Pages
<PAGE>
 
           (g).X Parent Holding Company, in accordance with Rule 13d-
               1(b)(ii)(G); see Item 7,
                    The Goldman Sachs Group, L.P.

           (h). Group, in accordance with Rule 13d-1(b)(ii)(H).


     Item 4.   Ownership.

           (a).  Amount beneficially owned:
                 See the response(s) to Item 9 on the attached cover page(s).

           (b).  Percent of class:
                 See the response(s) to Item 11 on the attached cover page(s).

           (c). Number of shares as to which such person has:

               (i)  Sole power to vote or to direct the vote:
                         See the response(s) to Item 5 on the attached cover
                         page(s).

               (ii) Shared power to vote or direct the vote:
                         See the response(s) to Item 6 on the attached cover
                         page(s).

               (iii)  Sole power to dispose or to direct the disposition of:
                         See the response(s) to Item 7 on the attached cover
                         page(s).

               (iv) Shared power to dispose or to direct the disposition of:
                         See the response(s) to Item 8 on the attached cover
                         page(s).

     Item 5.   Ownership of Five Percent or Less of a Class.
                    March 14, 1995

     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.
                    See Exhibit(2)

     Item 8.   Identification and Classification of Members of the Group.
                    Not Applicable

     Item 9.   Notice of Dissolution of Group.
                    Not Applicable

                               Page 5 of 6 Pages
<PAGE>
 
     Item 10.  Certification.

               By signing below I certify that, to the best of my
               knowledge and belief, the securities referred to above were
               acquired in the ordinary course of business and were not acquired
               for the purpose of and do not have the effect of changing or
               influencing the control of the issuer of such securities and were
               not acquired in connection with or as a participant in any
               transaction having such purpose or effect.


                                   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:  April 7, 1995



                              THE GOLDMAN SACHS GROUP, L.P.


                              By:  /s/David B. Ford
                                 ---------------------------
                              Name: David B. Ford
                              Title: General Partner



                              GOLDMAN, SACHS & CO.


                              By:  /s/ David B. Ford
                                 ------------------------ 
                              Name: David B. Ford
                              Title:General Partner

                               Page 6 of 6 Pages


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