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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): April 13, 1998
SUNBELT NURSERY GROUP, INC.
(Exact name of registrant as specified in charter)
Delaware
(State or other jurisdiction
of incorporation or organization)
Commission File Number: 1-9031
75-1932993
(I.R.S. employer identification no.)
32382 Del Obispo Street
San Juan Capistrano, California 92675
(Address of principal executive
offices, including zip code)
(714) 248-3811
(Registrant's telephone number,
including area code)
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Item 2. Acquisition or Disposition of Assets
1. On April 13, 1998 Sunbelt Nursery Group, Inc. ("Sunbelt") sold
substantially all of the assets of one of its subsidiaries,
Nurseryland Garden Centers, Inc., used in connection with its
retail garden center stores located in California to Ramert
Interests, LLC ("Ramert") for $3,400,000 in cash.
2, On April 20, 1998 Sunbelt and its subsidiary Wolfe Nursery,
Inc. ("Wolfe") sold certain property used in connection with
eleven garden centers in San Antonio, Texas and Austin, Texas
(including certain leases, improvements, furniture, fixtures
and equipment and intangible property) to Ramert for $150,000
in cash.
3 On April 28, 1998, Sunbelt and Wolfe sold certain property
used in connection with five garden centers in Houston, Texas
(including certain leases, improvements and furniture,
fixtures and equipment and intangible property) to Teas
Nursery, Inc. for $194,000 in cash.
4. On April 16, 1998, Sunbelt and its subsidiary Tip Top Nursery
sold substantially all of the assets used in connection with
their Arizona operations to Summerwinds Garden Centers of
Arizona, Inc., which assets consisted of inventory,
improvements, leases, furniture, fixtures and equipment and
intangible property, for $2,777,000 in cash subject to
adjustments based upon the inventory value as of the closing
date.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereto duly authorized.
SUNBELT NURSERY GROUP, INC.
By:_____________________________________
Timothy R. Duoos
Chairman of the Board
President and Chief Executive Officer
Date: April 30, 1998
