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 31, 1998
BARRY'S JEWELERS, INC.
(Exact name of registrant as specified in its charter)
California 0-15017 95-3746316
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
111 West Lemon Avenue, Monrovia, California 91016
(Address of principal executive offices) (Zip Code)
(626) 303-4741
(Registrant's telephone number, including area code)
HOFS04...:\01\21901\0001\2236\FRM4038P.46A
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INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. OTHER EVENTS.
On March 31, 1998, Barry's Jewelers, Inc., a California corporation (the
"Company"), announced that Randy McCullough had been promoted, effective
immediately, to the position of Chief Executive Officer, replacing Samuel J.
Merksamer. A copy of the press release issued by the Company announcing such
matters is attached hereto as Exhibit 99.1 and is incorporated herein by
reference. In connection with such replacement, Mr. Merksamer resigned as a
director of the Company.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit No. Exhibit Page No.
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99.1 Press Release dated March 31, 1998. 5
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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 hereunto duly authorized.
BARRY'S JEWELERS, INC.
Date: April 17, 1998 By: /s/ E. Peter Healey
---------------------------------
Name: E. Peter Healey
Title: Executive Vice President and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Exhibit Page No.
- ----------- ------- --------
99.1 Press Release dated March 31, 1998. 5
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EXHIBIT 99.1
CONTACT
E. Peter Healey
Executive Vice President and
Chief Financial Officer
(626) 303-4741
FOR IMMEDIATE RELEASE
BARRY'S JEWELERS, INC., ANNOUNCES PROMOTION
OF RANDY MCCULLOUGH TO CHIEF EXECUTIVE OFFICER
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LOS ANGELES, CALIFORNIA - MARCH 31, 1998 - Barry's Jewelers, Inc.,
announced today that Randy McCullough has been promoted, effective immediately,
to the position of Chief Executive Officer. Mr. McCullough replaces Samuel J.
Merksamer, who has served as Barry's CEO since February 14, 1997. Mr. Merksamer
will be leaving Barry's to pursue other opportunities.
"Sam assembled one of the finest management teams in the jewelry
industry and led that team through a successful holiday season," said William
Eberle, Chairman of the Board of Barry's Jewelers, Inc. "Based on the efforts of
Sam and this management team, Barry's has now been successfully repositioned as
a mainstream jeweler and is in a position to emerge from chapter 11 as a healthy
company."
Randy McCullough was recently promoted to Chief Operating Officer on
January 22, 1998. "I look forward to assuming the position of CEO of Barry's,
one of the preeminent retail jewelers of the United States," said Mr.
McCullough.
Prior to his promotion, Mr. McCullough served as the Senior Vice
President of Merchandising for the Company. Before joining Barry's, Mr.
McCullough served as the President of Silverman's Factory Jewelers,
headquartered in El Paso, Texas. Under his guidance, Silverman's grew from an
unprofitable 7-store "mom 'n pop" operation to an 18-store professionally
managed enterprise doing business in ten states. Mr. McCullough also spent over
18 years with Marks & Morgan (formerly A.A. Friedman Co.) the nation's
ninth-largest retail jewelry chain then with 121 stores. Beginning as a store
manager, Mr. McCullough quickly rose through the ranks to
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become a diamond buyer, general merchandise manager, and ultimately, the Vice
President of Merchandise and Marketing.
Barry's Jewelers, Inc. operates 128 retail jewelry stores in 18
states throughout the country including Hatfield Jewelers, Schubach Jewelers,
Samuels Jewelers, A. Hirsh & Son and Mission Jewelers.
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