<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
C U R R E N T R E P O R T
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
December 20, 1996
Date of Report (Date of earliest event reported)
Lamonts Apparel, Inc.
---------------------
(Exact Name of Registrant As Specified In Its Charter)
Delaware
--------
(State or Other Jurisdiction of Incorporation)
0-15542 # 75-2076160
- ---------------------------------- --------------------------------------
(Commission File Number) (IRS Employer Identification No.)
12413 Willows Road, N.E., Kirkland, Washington 98034
---------------------------------------------- ----------------
(Address of Principal Executive Offices) (Zip Code)
(206) 814-5700
---------------
(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
- --------------------------------------------------------------------------------
(Former Name or Former Address, If Changed Since Last Report)
<PAGE>
Item 5: Other Events.
On December 23, 1996, Lamonts Apparel, Inc. (the "Registrant")
announced that the requisite majorities of each class of its impaired creditors
and equity security holders voted in favor of accepting the Registrant's
"Debtor's Amended Plan of Reorganization under Chapter 11 of the Bankruptcy
Code," filed on October 23, 1996 (the "Plan"). In addition, the Registrant,
together with representatives of the official committees that represent the
Registrant's unsecured creditors, bondholders, and equityholders have
stipulated, and the United States Bankruptcy Court for the Western District of
Washington at Seattle (the "Court") has ordered that the hearing on confirmation
of the Plan begin as scheduled on January 6, 1997 and continue on April 14, 1997
in order to afford the Registrant adequate time in which to investigate
recapitalization opportunities. A copy of (i) the Court's Stipulation Re
Procedures for Confirmation of Plan, and Order thereon; and (ii) the press
release announcing the foregoing, are each attached hereto.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
Exhibit No. Exhibit
----------- -------
99.1 Stipulation Re Procedures for Confirmation of Plan, and
Order thereon
99.2 Press release, dated December 23, 1996
2
<PAGE>
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.
Lamonts Apparel, Inc.
---------------------
Registrant
Dated: January 7, 1997 By: /s/ DEBBIE BROWNFIELD
------------------------------------
Name: Debbie Brownfield
Title: Senior Vice President-Finance
and Chief Financial Officer
3
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page No.
- ----------- ----------- --------
99.1 Stipulation Re Procedures 5
for Confirmation of Plan,
and Order thereon
99.2 Press release, dated 14
December 23, 1996
4
<PAGE>
Judge: The Honorable Thomas T. Glover
Chapter: 11
Hearing Location: Park Place Building
1200 Sixth Avenue
Seattle, Washington
Room 416
Hearing Date: [No Hearing Scheduled]
Hearing Time: [No Hearing Scheduled]
Response Date: [No Hearing Scheduled]
UNITED STATES BANKRUPTCY COURT
WESTERN DISTRICT OF WASHINGTON
AT SEATTLE
In re ) Case No. 95-00100
)
LAMONTS APPAREL, INC., )
a Delaware corporation, dba )
LAMONTS, LAMONTS FOR KIDS, fka ) STIPULATION RE PROCEDURES FOR
TEXSTYRENE CORPORATION, a ) CONFIRMATION OF PLAN; AND ORDER THEREON
Delaware corporation, ARIS )
CORPORATION, a Delaware )
corporation, LAMONTS )
CORPORATION, a Delaware )
corporation, and LAMONTS )
APPAREL, INC., a Washington )
corporation, )
)
Debtor. )
)
Taxpayer Identification )
No. 75-2076160 )
)
Debtor's Former Address: )
- ------------------------ )
3650 131st Avenue S.E. )
Bellevue, WA 98006 )
)
Debtor's Current Address: )
- ------------------------- )
12413 Willows Road N.E. )
Kirkland, WA 98034 )
________________________________ )
Page 1
<PAGE>
TO THE HONORABLE THOMAS T. GLOVER, UNITED STATES BANKRUPTCY JUDGE:
THIS STIPULATION is entered into by and among Lamonts Apparel, Inc., a
Delaware corporation ("Lamonts"); the Official Committee of Creditors Holding
Unsecured Claims (the "Unsecured Creditors' Committee"); the Official Committee
of Bondholders (the "Bondholders' Committee"); and the Official Committee of
Equity Security Holders (the "Equity Committee"); with reference to the
following facts and recitations:
A. Lamonts is the debtor and debtor in possession in the above-
captioned case under chapter 11 of the Bankruptcy Code. Lamonts filed its
voluntary petition herein on January 6, 1995.
B. On October 23, 1996, Lamonts filed the "Debtor's Amended Plan of
Reorganization under Chapter 11 of the Bankruptcy Code" (the "Plan"). The Plan
has been approved by the Unsecured Creditors' Committee, the Bondholders'
Committee, and the Equity Committee.
C. A hearing to consider confirmation of the Plan (the "Confirmation
Hearing") has been scheduled to commence on January 6, 1997, at 3:00 p.m.
D. After discussions, Lamonts, the Unsecured Creditors' Committee,
the Bondholders' Committee, and the Equity Committee have agreed to request
jointly that the Court conduct the Confirmation Hearing in accordance with the
procedures set forth in this Stipulation.
Page 2
<PAGE>
NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED by and among the
parties hereto, through their respective attorneys of record, as follows:
1. Lamonts shall, by declarations filed in advance of the
Confirmation Hearing and/or by additional evidence to be introduced at the time
of the Confirmation Hearing, establish that the Plan has been duly accepted by
the requisite majorities of each class of impaired claims and interests and that
all other requirements specified in the Bankruptcy Code and Bankruptcy Rules for
confirmation of the Plan have been duly satisfied, with the sole exception of
the "Deferred Confirmation Requirements" specified in paragraph 3 below.
2. Lamonts, the Unsecured Creditors' Committee, the Bondholders'
Committee, and the Equity Committee hereby jointly request and stipulate that
the Court recess the Confirmation Hearing after each of the matters referred to
in paragraph 1 above has been established to the Court's satisfaction and
thereupon continue the Confirmation Hearing to April 14, 1997, at 11:00 a.m.
(the "Continued Confirmation Hearing"). The purpose of the Continued
Confirmation Hearing shall be for the Court to consider evidence and make
findings with respect to the Deferred Confirmation Requirements and, if all
confirmation requirements shall have then been duly satisfied, to enter an
appropriate order confirming the Plan at that time.
Page 3
<PAGE>
3. The Deferred Confirmation Requirements to be considered at the
Continued Confirmation Hearing shall consist of those matters specified in
Sections 1129(a)(5)(A) and 1129(a)(11) of the Bankruptcy Code.
4. Lamonts, the Unsecured Creditors' Committee, the Bondholders'
Committee, and the Equity Committee believe and submit that the confirmation
procedures set forth in this Stipulation are in the best interests of the
estate, creditors, and shareholders, and will facilitate the successful
reorganization of Lamonts.
DATED: December __, 1996
___________________________________
JEFFREY H. DAVIDSON and
MICHAEL H. GOLDSTEIN, Members of
STUTMAN, TREISTER & GLATT
PROFESSIONAL CORPORATION
Special Reorganization Counsel
for Debtor and Debtor in Possession
DATED: December __, 1996
___________________________________
RICHARD J. HYATT (WSBA No. 14048)
RYAN SWANSON & CLEVELAND
1201 Third Avenue, Suite 3400
Seattle, WA 98101
Telephone: (206) 464-4224
Counsel for Debtor and
Debtor in Possession
Page 4
<PAGE>
DATED: December __, 1996 ___________________________________
LAWRENCE C. GOTTLIEB
SIEGEL, SOMMERS & SCHWARTZ, LLP
470 Park Avenue S., 16th Fl.
New York, NY 10016
Telephone: (212) 889-7570
Counsel for Official Committee of
Creditors Holding Unsecured Claims
DATED: December __, 1996 ___________________________________
JON D. SCHNEIDER
GOODWIN, PROCTER & HOAR
Exchange Place
53 State Street
Boston, MA 02109
Telephone: (617) 570-1000
Counsel for Official Committee of
Bondholders
DATED: December __, 1996 ___________________________________
PAUL SILVERSTEIN
ANDREWS & KURTH
425 Lexington
New York, NY 10017
Telephone: (212) 850-2800
Counsel for Official Committee of
Equity Security Holders
Page 5
<PAGE>
O R D E R
AT SEATTLE, WASHINGTON, IN SAID DISTRICT, ON THIS ____ DAY OF
DECEMBER, 1996.
The foregoing Stipulation is hereby approved; and
IT IS SO ORDERED.
__________________________________
THOMAS T. GLOVER
UNITED STATES BANKRUPTCY JUDGE
Page 6
<PAGE>
Press Release
FOR IMMEDIATE RELEASE
CREDITOR, EQUITY CLASSES OVERWHELMINGLY APPROVE LAMONTS' PLAN;
COMPANY RETAINS INVESTMENT BANKERS
KIRKLAND, WASH. - DEC. 23, 1996 - Lamonts Apparel, Inc., which
operates 38 family apparel stores in five northwestern states, reported today in
a filing with the Bankruptcy Court that "overwhelming majorities" of all
impaired creditor and equity classes had voted in favor of the company's Plan of
Reorganization.
"It is gratifying to receive such extensive support," stated Alan
Schlesinger, chairman and chief executive officer of Lamonts.
In a related matter, the company also confirmed that it has retained
Gordian Group, L.P., a New York-based investment bank, to explore
recapitalization opportunities. Mr. Schlesinger stated that "additional funds
from a recapitalization would enable the company to accelerate plans to open new
stores, improve existing stores, enhance management information systems and
further implement its successful new merchandising strategies." Lamonts has
been advised that a recapitalization would be facilitated by the company's
remaining in Chapter 11 reorganization. Accordingly, Lamonts and the official
committees representing the unsecured creditors, bondholders, and equityholders
have requested, and the Court has approved that the confirmation hearing begin
as scheduled on January 6, 1997 and continue on April 14, 1997 to afford the
company adequate time in which to investigate recapitalization opportunities.
Lamonts Apparel, Inc. is headquartered in the greater Seattle area.
Founded in 1967, the company employs approximately 2,000 employees at its
headquarters in Kirkland and its 38 stores located in Alaska, Idaho, Oregon,
Utah and Washington.
