UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13D-2(A)
Lechters, Inc.
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(Name of Issuer)
Common Stock, no par value per share
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(Title of Class of Securities)
523238103
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(CUSIP Number)
David Gold
Sherry Gold
4000 Union Pacific Avenue
City of Commerce, CA 90023
(323) 980-8145
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
October 5, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [].
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 13D
CSUIP NO. 523238103 PAGE 2 OF 7 PAGES
--------- --- ---
1 NAME OR REPORTING PERSON S.S.
or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sherry Gold ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
3 SEC USE ONLY
4 SOURCE OF FUNDS* PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 1,433,000 (See Response to Item 5).
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
10 SHARED DISPOSITIVE POWER
1,433,000 (See Response to Item 5).
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,433,000 (See Response to Item 5).
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.4% (See Response to Item 5).
14 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
Page 2 of 7
<PAGE>
SCHEDULE 13D
CSUIP NO. 523238103 PAGE 3 OF 7 PAGES
--------- --- ---
1 NAME OR REPORTING PERSON S.S.
or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David Gold ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
3 SEC USE ONLY
4 SOURCE OF FUNDS* PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 1,433,000 (See Response to Item 5).
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
10 SHARED DISPOSITIVE POWER
1,433,000 (See Response to Item 5).
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,433,000 (See Response to Item 5).
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.4% (See Response to Item 5).
14 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
Page 3 of 7
<PAGE>
ITEM 1. SECURITY AND ISSUER.
This statement on Schedule 13D relates to the common stock, no par value
(the "Common Stock"), of Lechters, Inc., a New Jersey Corporation (the
"Company"), and is being filed pursuant to Rule 13d-1 under the Securities
Exchange Act of 1934, as amended (the "Exchange Act").
The address of the principal executive offices of the Company is 1 Cape May
Street, Harrison, New Jersey 07029.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Statement is hereby filed by David Gold and Sherry Gold, Mr. David
Gold's spouse (collectively, the "Reporting Persons").
(b) The business address of the Reporting Persons is c/o 99 Cents Only
Stores, 4000 East Union Pacific Ave., City of Commerce, California 90023.
(c) Mr. Gold is the President, Chief Executive Officer and Director of 99
Cents Only Stores, a leading deep-discount retailer of primarily name-brand
consumable general merchandise, located at 4000 East Union Pacific Ave., City of
Commerce, California 90023. Mrs. Gold is also an employee of 99 Cents Only
Stores.
(d) Neither of the Reporting Persons has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) Neither of the Reporting Persons has, during the last five years, been
a party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding been 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.
(f) The Reporting Persons are citizens of the United States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Reporting Persons used cash or cash equivalents from their own personal
funds to carry out the transactions described in this Schedule 13D. The amount
of cash used was $2,697,786.
ITEM 4. PURPOSE OF THE TRANSACTION.
The Reporting Persons acquired their shares for investment purposes and
currently have no plans or proposals which relate to or would result in any of
the actions set forth in subparagraphs (a) through (j) of Item 4 of the General
Instruction to Schedule 13D. However, the Reporting Persons may, from time to
time, make additional purchases of the Common Stock in the future, based on
market conditions.
Page 4 of 7
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) 1,433,000 shares of Common Stock. This number represents 8.4% of the
outstanding shares of Common Stock (based on 17,072,286 shares outstanding as of
September 8, 1999, as reported in the Company's Quarterly Report on Form 10-Q
for the quarter ended July 31, 1999).
(b) The Reporting Persons have shared power to vote or direct the vote and
dispose or direct the disposition of 1,433,000 shares of the Common Stock.
Neither of the Reporting Persons has sole power to vote or direct the vote or
dispose or direct the disposition of the Common Stock.
(c) All purchases were made by Dave and Sherry Gold, as community property. The
date of each purchase, the number of shares purchased and the price per share
are set forth below. All purchases were effected through brokers' transactions.
DATE NUMBER OF SHARES PURCHASE PRICE PER SHARE
---- ---------------- ------------------------
August 12, 1999 5,000 $2.41
August 18, 1999 10,000 $2.41
August 23, 1999 4,000 $2.31
August 24, 1999 10,000 $2.24
August 26, 1999 2,000 $2.16
August 27, 1999 5,000 $2.16
August 30, 1999 10,000 $2.09
September 2, 1999 25,000 $2.09
September 8, 1999 10,000 $2.09
September 9, 1999 10,000 $2.08
September 15, 1999 25,000 $2.08
September 16, 1999 15,000 $2.08
September 22, 1999 100,000 $2.08
September 22, 1999 2,000 $2.05
September 24, 1999 10,000 $2.05
September 24, 1999 5,000 $2.02
September 27, 1999 200,000 $1.99
September 28, 1999 185,000 $1.99
October 5, 1999 800,000 $1.76
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Page 5 of 7
<PAGE>
The Reporting Persons are not a party to any contract, arrangement or
understanding with respect to any securities of the issuer, and the Reporting
Persons do not have any relationships (legal or otherwise) with any person with
respect to any securities of the issuer, including but not limited to transfer
or voting of any of the securities, finder's fees, joint ventures, loan or
option arrangements, puts or calls, guarantees of profits, division of profits
or loss, or the giving or withholding of proxies. The securities acquired by the
Reporting Persons are not pledged or otherwise subject to a contingency the
occurrence of which would give another person voting power or investment power
over such securities.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
AGREEMENT
This Schedule 13D is filed on behalf of each of the undersigned pursuant to Rule
13d-1(k)(1).
Page 6 of 7
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: October 14, 1999
/S/ DAVID GOLD
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David Gold
/S/ SHERRY GOLD
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Sherry Gold
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative (other than an executive
officer or general partner of this filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statements, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name of any title of each person who signs the statement shall be typed or
printed beneath his signature.
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)
