SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number 0-15238
NOTIFICATION OF LATE FILING
[X] Form 10-Q
For the Quarter Ended: March 31, 1996
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
Part I - Registrant Information
Full name of registrant:
VICTORIA CREATIONS, INC.
Address of principal executive office (Street and Number):
30 Jefferson Park Road
City, State and Zip Code:
Warwick, RI 02888
Part II - Rule 12b-25 (b) and (c)
(a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
(b) The subject Quarterly Report on Form 10-Q will be filed on or before
the fifth calendar day following the prescribed due date;
Part III - Narrative
State below in reasonable detail the reasons why Form 10-Q, could not be
filed within the prescribed time period.
As reported in the Registrant's Quarterly Report on Form 10-Q for the
quarter ended December 31, 1995, effective February 22, 1996,
Registrant and its Parent Company, United Merchants and
Manufacturers, Inc. ("UM&M"), each filed petitions for reorganization
relief under Chapter 11 of the Bankruptcy Code in the United States
Court for the Southern District of New York. The same personnel who
prepare the Quarterly Reports on Form 10-Q for both the Registrant
and UM&M have been preparing financial information for the Court and
other interested parties relating to the such filings. Additional
time is necessary to have the Form 10-Q completed and reviewed by all
the Registrant's appropriate personnel to assure adequate disclosure.
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Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification:
Norman R. Forson (201) 585-1310
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter
period that the registrant was required to file such report(s) been filed?
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding periods for the last fiscal year will be reflected
by the earnings statements to be included in the subject report or portion
thereof?
[X] Yes [ ] No
Net sales for the quarter ended March 31, 1996 increased 10% over the
net sales of $11.2 million reported for the prior year's quarter.
Registrant will report operating income of approximately $525,000 for
the current quarter compared with an operating loss of $18,000 for
the quarter ended March 31, 1995. Registrant will report a net loss
of approximately $47,000 for the three months ended March 31, 1996
compared with a net loss of $766,000 for the same quarter last fiscal
year.
Net sales for the nine months ended March 31, 1996 decreased 3% from
the net sales of $38.7 million reported for the prior year's first
nine months. The decrease in sales for the nine months ended March
31, 1996 is attributed to limitations on borrowings of cash from the
Company's senior secured lender. Registrant will report operating
income of approximately $2.9 million for the current nine months, an
increase of 53% over the operating income of $1.9 million for the
nine months ended March 31, 1995. Registrant will report net
earnings of approximately $1.2 million for the nine months ended
March 31, 1996 compared with a net loss of $731,000 for the same
period last fiscal year.
VICTORIA CREATIONS, INC.
(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: May 15, 1996 By /s/ Norman R. Forson
Norman R. Forson
Senior Vice President and
Treasurer
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