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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): MARCH 14, 1995
SPEC'S MUSIC, INC.
(Exact name of registrant as specified in its charter)
FLORIDA 0-14323 59-1362127
(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification Number)
1666 N.W. 82ND AVENUE, MIAMI, FLORIDA 33126
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (305) 592-7288
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(Former name or former address, if changed since last report)
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<PAGE>
Item 5. Other Events.
On March 14, 1995, Spec's Music, Inc. issued a press release the text of
which was in relevant part as follows:
Spec's Music, Inc. (NASDAQ:SPEK), announced today that it has ended
its exploration of the sale of the Company, one of Florida's leading
specialty retailers.
"After reviewing our options, the Board of Directors decided that at
this time the shareholders' interests would be best served by Spec's
remaining an independent company," stated Ann Spector Lieff, President
and Chief Executive Officer.
"We continue to explore appropriate courses of action that will
enhance the Company's value," she said, adding that, "This includes a
review of our current operations as well as a reassessment of our long term
strategic plans."
"The music retailing industry is changing very dramatically and very
rapidly," explained Lieff. "We are committed to positioning the Company to
most effectively take advantage of these changes," she said. Spec's plans
to open a total of 13 new stores during its current fiscal year, which ends
July 31. These store openings include two 23,000-square foot megastores in
Coconut Grove and Miami Beach. In addition, two other stores are being
renovated to incorporate the Company's new store design, graphics, and
customer service features.
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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.
SPEC'S MUSIC, INC.
Date: March 17, 1995 /s/ Peter Blei
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Peter Blei
Vice President and Chief Financial Officer
