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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): July 2, 1997
THE COLONEL'S INTERNATIONAL, INC.
(Exact name of registrant as specified in charter)
MICHIGAN 2-98277C 38-3262264
(State or other jurisdic- (Commission (IRS Employer
tion of incorporation) File Number) Identification No.)
620 SOUTH PLATT ROAD
MILAN, MICHIGAN 48160
(Address of principal executive offices) (Zip Code)
(313) 439-4200
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
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Item 5. OTHER EVENTS.
On July 2, 1997, The Colonel's International, Inc. issued the
press release attached as Exhibit 99 to this Form 8-K.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND
EXHIBITS.
(c) Exhibits:
99 Press Release dated July 2, 1997.
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 thereunto duly authorized.
Dated: July 2, 1997 THE COLONEL'S INTERNATIONAL, INC.
By /S/ RICHARD S. SCHOENFELDT
Richard S. Schoenfeldt
Vice President and Chief
Financial Officer
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EXHIBIT 99
THE COLONEL'S INTERNATIONAL, INC.
NASDAQ Symbol COLO
PRESS RELEASE
FOR IMMEDIATE RELEASE
July 2, 1997
Contact: Richard S. Schoenfeldt
Chief Financial Officer
313-439-4200
THE COLONEL'S INTERNATIONAL, INC. ANNOUNCES TERMINATION OF PRELIMINARY
AGREEMENT TO ACQUIRE THE PATSY LOU WILLIAMSON GROUP OF AUTOMOBILE
DEALERSHIPS
Milan, Michigan. The Colonel's International, Inc. ("Company") Board of
Directors today announced that it has terminated the preliminary agreement
to acquire the new and used car dealerships owned by Mrs. Patsy Lou
Williamson, the Company's Chairwoman. The Company entered into the
preliminary agreement on March 20, 1997 and made a public announcement of
the preliminary agreement on that date. At this time, the Company has no
intention to acquire any automobile dealerships.
Further business conducted during the board meeting included acceptance of
Michael J. McCloskey's resignation as Vice Chairman, Director and Chief
Executive Officer, effective June 30, 1997. Mark Stevens, the Company's
President, will assume the responsibilities of Chief Executive Officer.
Burt Reynolds of television and movie fame has been appointed to the Board
of Directors to fill the Board vacancy.
The Colonel's, Inc., a wholly-owned subsidiary of the Company based in
Milan, Michigan, is a leading domestic manufacturer of plastic replacement
bumpers and facias for the aftermarket auto industry in North America. The
Colonel's Truck Accessories, Inc., a wholly-owned subsidiary of the Company,
produces truck bed liners for sale to new vehicle dealers and in the
automotive after-market. Brainerd International Raceway, the Company's
other wholly-owned subsidiary, owns and operates Brainerd International
Raceway, a multi-purpose motor sports facility located in Brainerd,
Minnesota.
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