SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
J. Baker, Inc.
(Name of Issuer)
Common Stock, Par Value $0.50 Per Share
(Title of Class of Securities)
057232100
(CUSIP Number of Class of Securities)
Wynnefield Partners Small Cap Value, L.P.
One Penn Plaza - Suite 4720
New York, New York 10119
Attention: Mr. Nelson Obus
(Name, Address and Telephone Number of Person Authorized)
to Receive Notices and Communications)
Copy to:
Jesse R. Meer, Esq.
Berlack, Israels & Liberman LLP
120 West 45th Street
New York, New York 10035
(212) 704-0100
December 19, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a Statement on Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box: ( )
Check the following box if a fee is being paid with this Statement: ( )
(Page 1 of 9 Pages)
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP No. 057232100 Page 2 of 9 Pages
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3688497
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC (SEE ITEM 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 343,304
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 343,304
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
343,304 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.47%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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(Page 2 of 9 Pages)
<PAGE>
SCHEDULE 13D
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CUSIP No. 057232100 Page 3 of 9 Pages
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1 NAME OF REPORTING PERSON: Wynnefield Small Cap Value Offshore Fund, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Not Applicable
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC (SEE ITEM 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 144,900
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 144,900
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
144,900 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.04%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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(Page 3 of 9 Pages)
<PAGE>
SCHEDULE 13D
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CUSIP No. 057232100 Page 4 of 9 Pages
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1 NAME OF REPORTING PERSON Wynnefield Partners Small Cap Value, L.P. I
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 13-3953291
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC (SEE ITEM 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 219,296
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 219,296
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
219,296 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.58%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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(Page 4 of 9 Pages)
<PAGE>
Item 1. Security and Issuer.
This Statement relates to shares of the Common Stock, $0.50 par value per
share (the "Shares"), of J. Baker, Inc., a Massachusetts corporation (the
"Issuer"). The principal executive offices of the Issuer are located at 555
Turnpike Street, Canton, Massachusetts 02021.
Item 2. Identity and Background.
(a), (b), (c) and (f). This Statement is being filed by Wynnefield Partners
Small Cap Value, L.P. (the "Partnership"), Wynnefield Small Cap Value Offshore
Fund, Ltd. (the "Fund"), and Wynnefield Partners Small Cap Value, L.P. I (the
"Partnership-I"). Although the Partnership, the Fund and Partnership-I are each
separate and distinctive entities with different beneficial owners (whether
designated as limited partners or stockholders), for the convenience of
reporting their holdings, in this Statement, they are sometimes referred to
collectively as the "Wynnefield Group".
Wynnefield Capital Management, LLC, a New York limited liability company
("WCM"), is the general partner of the Partnership and the Partnership-I,
private investment companies organized as limited partnerships under the laws of
the State of Delaware. Nelson Obus, Joshua Landes and Robert Melnick are the
managing members of WCM and the principal executive officers of Wynnefield
Capital, Inc., the investment manager of the Fund, a private investment company
organized under the laws of the Cayman Islands. Mr. Obus, Mr. Landes and Mr.
Melnick are citizens of the United States of America.
The business address of Mr. Obus, Mr. Landes, and Mr. Melnick, WCM, and
each of the entities in the Wynnefield Group is One Penn Plaza, Suite 4720, New
York, New York 10119.
(d) and (e). During the last five years, neither Mr. Obus, Mr. Landes, Mr.
Melnick, WCM, nor any of the entities comprising the Wynnefield Group has been
(i) convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
The Wynnefield Group entities purchased their Shares, separately from each
other, for the consideration shown in the following table:
(Page 5 of 9 Pages)
<PAGE>
Name Number of Shares Consideration Paid
---- ---------------- ------------------
Partnership 343,304 $2,177,940.13
Partnership-I 219,296 1,401,584.27
Fund 144,900 952,634.35
Such Shares were paid for from the separate working capital of each entity
in the Wynnefield Group, each of which maintains a separate investment fund,
consisting of capital contributions from their respective partners and investors
and capital appreciation derived therefrom for the principal purpose of buying
and selling securities (including financial and money market instruments) and
interests in domestic and foreign securities, including, without limitation,
convertible securities, stock index features contracts, options, puts and calls
on stock and warrants.
Item 4. Purposes of Transaction.
Each member of the Wynnefield Group acquired the Shares reported in Item 5
below for investment purposes. If any member of the Wynnefield Group determines
that the ownership of the Issuer's securities represent an attractive investment
opportunity, it reserves the right to buy additional Shares with the
understanding that neither such purchases nor the exercise of its rights as a
stockholder of the Issuer is intended as a "control" device with respect to the
Issuer.
Except as set forth above, no member of the Wynnefield Group has no present
plans or intentions that would result in or relate to any of the transactions
described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interests in Securities of the Issuer.
(a) As of the close of business on the date hereof, the three entities
referred to as the Wynnefield Group beneficially owned a total of 707,500
Shares, the separate ownership of which is set forth in Item 3 of this
Statement. Mr. Obus, Mr. Landes and Mr Melnick, by virtue of their status as
managing members of WCM, the general partner of the Partnership and
Partnership-I, and as officers of the Fund's investment manager, may be deemed
to have indirect beneficial ownership of the Shares owned by the three entities
referred to as the Wynnefield Group. However, Mr. Obus, Mr. Landes and Mr.
Melnick, as stated below, disclaim any beneficial ownership of such Shares. The
Shares owned by the three entities referred to as the Wynnefield Group represent
approximately 5.08% of the outstanding Shares of the Issuer, based on the
13,918,890 Shares
(Page 6 of 9 Pages)
<PAGE>
reported as outstanding on November 1, 1997 in the Issuer's latest Quarterly
Report on Form 10-Q.
Pursuant to Rule 13d-4 of the General Rules and Regulations under the
Securities and Exchange Act of 1934, as amended (the "Exchange Act"), Mr. Obus,
Mr. Landes and Mr. Melnick disclaim beneficial ownership of any Shares owned by
the three entities comprising the Wynnefield Group and disclaim membership in
the Wynnefield Group with respect to the Shares for purposes of Sections 13(d)
and 13(g) of the Exchange Act or for any other purpose under any other provision
of the Exchange Act or the rules and regulations promulgated thereunder.
(b) Mr. Obus, Mr. Landes and Mr. Melnick, by virtue of their status as the
managing members of WCM, the general partner of the Partnership and
Partnership-I, and as officers of the Fund's investment manager, have the power
to vote or to direct the vote and the power to dispose and to direct the
disposition of the Shares owned by each of the three entities comprising the
Wynnefield Group.
(c) The entities in the Wynnefield Group made their separate purchases of
Shares in the over-the-counter market as follows:
<TABLE>
<CAPTION>
Number Price
Name Date of Shares Per Share
---- ---- --------- ---------
<S> <C> <C> <C>
Partnership From February 23, 1996 Prices ranging between
through October 31, 1997 106,304 $7.8125 and $4.1875
Partnership November 5, 1997 48,000 $7.2500
Partnership November 6, 1997 54,000 7.0521
Partnership November 7, 1997 6,000 6.6875
Partnership November 20, 1997 5,800 6.7865
Partnership November 26, 1997 36,000 7.0000
Partnership December 8, 1997 9,600 6.0000
Partnership December 10, 1997 4,800 5.7500
Partnership December 12, 1997 25,200 5.5000
Partnership Decenber 18, 1997 38,000 5,5000
Partnership December 19, 1997 9,600 5.2500
Partnership I From February 23, 1996 Prices ranging between
through October 31, 1997 60,696 $7.8125 and $4.1875
</TABLE>
(Page 7 of 9 Pages)
<PAGE>
<TABLE>
<CAPTION>
Number Price
Name Date of Shares Per Share
---- ---- --------- ---------
<S> <C> <C> <C>
Partnership I From February 23, 1996 Prices ranging between
through October 31, 1997 60,696 $7.8125 and $4.1875
Partnership I November 5, 1997 32,000 $7.2500
Partnership I November 6, 1997 36,000 7.0521
Partnership I November 7, 1997 6,000 6.6875
Partnership I November 20, 1997 3,300 6.7865
Partnership I November 26, 1997 24,000 7.0000
Partnership I December 8, 1997 6,400 6.0000
Partnership I December 10, 1997 3,200 5.7500
Partnership I December 12, 1997 16,800 5.5000
Partnership I December 18, 1997 26,000 5.5000
Partnership I December 19, 1997 6,400 5.2500
Fund From January 2, 1997 through Prices ranging between
October 31, 1997 29,500 $7.8125 and $5.5025
Fund November 5, 1997 25,000 $7.2500
Fund November 6, 1997 30,000 7.0521
Fund November 20, 1997 2,400 6.7865
Fund November 26, 1997 15,000 7.0000
Fund December 8, 1997 4,000 6.0000
Fund December 9, 1997 10,000 5.7500
Fund December 10, 1997 2,000 5.7500
Fund December 12, 1997 8,000 5.5000
Fund December 18, 1997 15,000 5.5000
Fund December 19, 1997 4,000 5.2500
</TABLE>
(Page 8 of 9 Pages)
<PAGE>
(d) Each of the entities comprising the Wynnefield Group as owners of the
Shares specified in Item 3 of this Statement has the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of,
the Shares specified in item 3 of this Statement, but only from such Shares.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
Neither Mr. Obus, Mr. Landes, Mr. Melnick, WCM, nor any of the entities
comprising the Wynnefield Group has any contracts, arrangements, understandings
or relationships (legal or otherwise) with any person with respect to any
securities of the Issuer, including but not limited to any contracts,
arrangements, understandings or relationships concerning the transfer or voting
of such securities, finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, division of profits or losses, or the
giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits.
Not applicable.
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certify that the information set forth in this Statement is true,
complete and correct.
Dated: January 7, 1998
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By: Wynnefield Capital Management, LLC,
General Partner
By: S/Joshua Landes
--------------------------------------
Joshua Landes, Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield Capital, Inc.
S/Joshua Landes
--------------------------------------
Joshua Landes, Vice President
(Page 9 of 9 Pages)
