SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) October 4, 1995
Brendle's Incorporated
(Exact Name of Registrant as Specified in its Charter)
North Carolina
(State or Other Jurisdiction of Incorporation)
33-13622 56-0497852
Commission File Number) I.R.S. Employer Identification Number
910/526-5600
(Registrant's Telephone Number, including Area Code)
(Former Name or Former Address, If changed Since Last Report)
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ITEM 5. OTHER EVENTS
Commencing or about October 5, 1995, the common stock of Brendle's Incorporated
(the "Company") will trade on the NASD Bulletin Board System. Since 1986, the
Company's common stock has traded in the NASDAQ National Market System ("NMS").
The decision to change trading forums is based primarily on the Company's
concern regarding its ability to meet the continuing inclusion requirements of
the NMS and the consequent commitment of management resources needed to address
these compliance issues. Management of the Company believes that the NASD
Bulletin Board System will provide the Company's shareholders with a
continuing, active market in which to trade their stock.
Recently, the Company's common stock has declined in price due primarily
to increases in trading volume occasioned by the distribution of approximately
4,100,000 shares of common stock to certain of its creditors pursuant to the
Company's Plan of Reorganization which was substantially consummated on April
29, 1994. The Company's common stock has historically been only thinly traded
when compared to other NMS securities. The selling off of many of these shares
has increased the trading volume and been the primary cause of the price
decline making it unlikely that the Company will be able to comply with certain
of the NMS's continuing inclusion requirements until such time as the Company's
common stock price has stabilized. Management of the Company does not believe
it is in the Company's best interest to continue committing management
resources to monitor and attempt to achieve and maintain compliance with the
NMS's requirements. Rather, management of the Company has determined that it
can better utilize these management resources in its continued focus to improve
the Company's business. Management believes that the NASD Bulletin Board will
provide shareholders with a suitable trading forum and will satisfy the
Company's other stated objectives.
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.
BRENDLE'S INCORPORATED
Date: , 1995 By:
Name: Joseph M. McLeish
Title: President and Chief
Executive Officer
