UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)
JENNIFER CONVERTIBLES, INC.
(Name of Issuer)
Common Stock ($.01 par value)
(Title of Class of Securities)
476153101
(CUSIP Number)
Kenneth R. Koch, Esq.
Squadron, Ellenoff, Plesent & Sheinfeld LLP
551 Fifth Avenue
New York, New York 10176
(212) 661-6500
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
October 15, 1996
(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 which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box: [X]
Check the following box if a fee is being paid with the statement: [ ]
<PAGE>
CUSIP No. 476153101
1 Name of Reporting Person Harley J. Greenfield
S.S. or I.R.S. Identification No.
of Above Person (Intentionally Omitted)
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds 00
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or
2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
7 Sole Voting 512,505*
Power
- --------------------------------------------------------------------------------
Number of Shares 8 Shared Voting
Beneficially Owned Power 0
by Reporting
- --------------------------------------------------------------------------------
Person With
9 Sole
Dispositive
Power 512,505*
- --------------------------------------------------------------------------------
10 Shared
Dispositive
Power 292,831*
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially
Owned By Each Reporting Person 805,339* shares
- --------------------------------------------------------------------------------
12 Check box if the Aggregate Amount
in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by 13.5%
Amount in Row (11)
- --------------------------------------------------------------------------------
14 Type of Reporting Person IN
- --------------------------------------------------------------------------------
* All but 267,047 shares underlying certain options are subject to a pledge
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<PAGE>
CUSIP No. 476153101
1 Name of Reporting Person Fred J. Love
S.S. or I.R.S. Identification No.
of Above Person (Intentionally Omitted)
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds 00
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or
2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
7 Sole Voting 585,662*
Power
- --------------------------------------------------------------------------------
Number of Shares 8 Shared Voting
Beneficially Owned Power 0
by Reporting
- --------------------------------------------------------------------------------
Person With
9 Sole
Dispositive
Power 0
- --------------------------------------------------------------------------------
10 Shared
Dispositive
Power 585,662*
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially
Owned By Each Reporting Person 585,662* shares
- --------------------------------------------------------------------------------
12 Check box if the Aggregate Amount
in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by 10.3%
Amount in Row (11)
- --------------------------------------------------------------------------------
14 Type of Reporting Person IN
- --------------------------------------------------------------------------------
* Subject to a pledge
-3-
<PAGE>
CUSIP No. 476153101
1 Name of Reporting Person Edward B. Seidner
S.S. or I.R.S. Identification No.
of Above Person (Intentionally Omitted)
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds 00
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or
2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
7 Sole Voting 261,083*
Power
- --------------------------------------------------------------------------------
Number of Shares 8 Shared Voting
Beneficially Owned Power 0
by Reporting
- --------------------------------------------------------------------------------
Person With
9 Sole
Dispositive
Power 261,083*
- --------------------------------------------------------------------------------
10 Shared
Dispositive
Power 292,831*
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially
Owned By Each Reporting Person 553,914* shares
- --------------------------------------------------------------------------------
12 Check box if the Aggregate Amount
in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by 9.7%
Amount in Row (11)
- --------------------------------------------------------------------------------
14 Type of Reporting Person IN
- --------------------------------------------------------------------------------
* Subject to a pledge
-4-
<PAGE>
CUSIP No. 476153101
1 Name of Reporting Person Jara Enterprises, Inc.
S.S. or I.R.S. Identification No.
of Above Person (Intentionally Omitted)
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds 00
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or
2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
7 Sole Voting
0
Power
- --------------------------------------------------------------------------------
Number of Shares 8 Shared Voting
Beneficially Owned Power 343,579*
by Reporting
- --------------------------------------------------------------------------------
Person With
9 Sole
Dispositive
Power 0
- --------------------------------------------------------------------------------
10 Shared
Dispositive
Power 343,579*
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially
Owned By Each Reporting Person 343,579* shares
- --------------------------------------------------------------------------------
12 Check box if the Aggregate Amount
in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by 6.0%
Amount in Row (11)
- --------------------------------------------------------------------------------
14 Type of Reporting Person CO
- -------------
* Subject to a pledge
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<PAGE>
CUSIP No. 476153101
1 Name of Reporting Person Convertible Enterprises,
Inc.
S.S. or I.R.S. Identification No.
of Above Person (Intentionally Omitted)
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds 00
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or
2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
7 Sole Voting 0
Power
- --------------------------------------------------------------------------------
Number of Shares 8 Shared Voting
Beneficially Owned Power 215,929*
by Reporting
- --------------------------------------------------------------------------------
Person With
9 Sole
Dispositive
Power 0
- --------------------------------------------------------------------------------
10 Shared
Dispositive
Power 215,929*
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially
Owned By Each Reporting Person 215,929* shares
- --------------------------------------------------------------------------------
12 Check box if the Aggregate Amount
in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by 3.8%
Amount in Row (11)
- --------------------------------------------------------------------------------
14 Type of Reporting Person CO
- -------------
* Subject to a pledge
-6-
<PAGE>
CUSIP No. 476153101
1 Name of Reporting Person Bright Star Enterprises,
Inc.
S.S. or I.R.S. Identification No.
of Above Person (Intentionally Omitted)
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds 00
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or
2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
7 Sole Voting 0
Power
- --------------------------------------------------------------------------------
Number of Shares 8 Shared Voting
Beneficially Owned Power 25,000*
by Reporting
- --------------------------------------------------------------------------------
Person With
9 Sole
Dispositive
Power 0
- --------------------------------------------------------------------------------
10 Shared
Dispositive
Power 25,000*
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially
Owned By Each Reporting Person 25,000* shares
- --------------------------------------------------------------------------------
12 Check box if the aggregate Amount
in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by 0.4%
Amount in Row (11)
- --------------------------------------------------------------------------------
14 Type of Reporting Person CO
- -------------
* Subject to a pledge
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<PAGE>
CUSIP No. 476153101
1 Name of Reporting Person Jennifer Advertising,
Inc.
S.S. or I.R.S. Identification No.
of Above Person (Intentionally Omitted)
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds 00
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or
2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
7 Sole Voting 0
Power
- --------------------------------------------------------------------------------
Number of Shares 8 Shared Voting
Beneficially Owned Power 35,000*
by Reporting
- --------------------------------------------------------------------------------
Person With
9 Sole
Dispositive
Power 0
- --------------------------------------------------------------------------------
10 Shared
Dispositive
Power 35,000*
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially
Owned By Each Reporting Person 35,000* shares
- --------------------------------------------------------------------------------
12 Check box if the aggregate Amount
in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by 0.6%
Amount in Row (11)
- --------------------------------------------------------------------------------
14 Type of Reporting Person CO
- -------------
* Subject to a pledge
-8-
<PAGE>
SCHEDULE 13D
Item 1. Security and Issuer.
This Amendment No. 8 to the Schedule 13D originally
filed with the Securities and Exchange Commission (the "Schedule 13D"),
relates to each of the undersigned's beneficial ownership of shares of common
stock, $.01 par value per share (the "Common Stock"), of Jennifer
Convertibles, Inc. (the "Issuer"), whose principal executive offices are
located at 419 Crossways Park Drive, Woodbury, New York 11797. Unless
otherwise indicated, all terms referred to herein shall have the same
respective meanings as those set forth in the Schedule 13D previously filed.
Item 2. Identity and Background
The address of Harley J. Greenfield and Edward B.
Seidner is c/o Jennifer Convertibles, Inc., 419 Crossways Park Drive,
Woodbury, New York 11797. The address of Fred J. Love, Jara, Convertible,
Bright Star and Advertising is One Ames Court, Plainview, New York 11803.
Item 4. Purpose of Transaction.
On October 15, 1996, the Voting Trust Agreement
expired in accordance with its terms. Accordingly, Harley J. Greenfield is no
longer the voting trustee for the 492,916 shares of Common Stock owned by Fred
J. Love and Edward B. Seidner.
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<PAGE>
Item 5. Interest in Securities of the Issuer.
The following table sets forth as of October 16, 1996,
information regarding the beneficial ownership of the Company's Common Stock
by each Reporting Person and by all Reporting Persons as a group.
Percent of Class
Name of Amount and Nature of Outstanding as of
Beneficial Owner Beneficial Ownership(1) April 1, 1996
- ---------------- ----------------------- -------------
Harley Greenfield 805,336(2) 13.5%
Fred J. Love 585,662(3) 10.3%
Edward B. Seidner 553,914(4) 9.7%
Jara 343,579(5)(6) 6.0%
Convertible 215,929(5) 3.8%
Bright Star 25,000(5) 0.4%
Advertising 35,000(5) 0.6%
All Reporting Persons 1,359,250 22.8%
as a group (seven persons)
- ------------
(1) All of such shares are owned directly with sole voting and
dispositive power, unless otherwise noted below, but, except for
shares underlying certain options owned by Mr. Greenfield, are
subject to a pledge to Klaussner.
(2) Includes (a) 292,831 shares underlying the Options granted to Mr.
Greenfield by Mr. Love, Jara, Convertible, Bright Star and
Advertising, over which Mr. Greenfield has no voting power but has
shared dispositive power, as such shares may not be disposed of
without the consent of Mr. Greenfield, and (b) 267,047 shares
underlying exercisable options granted to Mr. Greenfield by the
Issuer which shares Mr. Greenfield would have sole voting and sole
dispositive power with respect to upon exercise of such options.
Does not include 30,000 shares underlying options which are not
yet exercisable or 1,200,000 shares underlying options (which
became exercisable in April 1996) exercisable at $8.00 per share.
Such options are owned by JCI Consultant, L.P. and Mr. Greenfield
does not have the power to cause the exercise of such options.
However, Mr. Greenfield would be the voting trustee for the shares
upon exercise of such options and would have, subject to certain
exceptions, the right to vote the shares issued upon such
exercise.
(3) Includes 343,579 shares owned by Jara, of which Mr. Love is the
sole stockholder, and its wholly-owned subsidiaries, Convertible,
Bright Star and Advertising and 242,083 shares owned directly by
Mr. Love.
-10-
<PAGE>
Mr. Love has sole voting power and shared dispositive power as to
such shares, as such shares are subject to the Options granted to
Messrs. Greenfield and Seidner and may not be disposed of without
the consent of the respective optionee.
(4) Includes 292,831 shares underlying the Options granted to Mr.
Seidner by Mr. Love, Jara, Convertible, Bright Star and
Advertising, over which Mr. Seidner has no voting power but has
shared dispositive power, as such shares may not be disposed of
without the consent of Mr. Seidner.
(5) All of such shares are beneficially owned by Mr. Love, the sole
stockholder of Jara. Mr. Love has sole voting power and shared
dispositive power as to such shares, as such shares are subject to
the Options and may not be disposed of without the consent of the
optionee.
(6) Includes the shares of Common Stock owned by Convertibles, Bright
Star and Advertising, wholly owned subsidiaries and Jara.
Except for the expiration of the Voting Trust Agreement, reported
hereby, the Reporting Persons have not engaged in any transaction with respect
to the Common Stock in the 60 days prior to the date of this Statement on
Schedule 13D.
-11-
<PAGE>
SIGNATURE
After reasonable inquiry and to the best knowledge and
belief of each of the undersigned, the information set forth in this statement
is true, complete, and correct, and each of the undersigned does not know or
have reason to believe that the information pertaining to the other signatories
is inaccurate.
Dated: November 12, 1996
/s/ Harley J. Greenfield
---------------------------------
Harley J. Greenfield
/s/ Fred J. Love
---------------------------------
Fred J. Love
/s/ Edward B. Seidner
---------------------------------
Edward B. Seidner
Jara Enterprises, Inc.
By: /s/ Fred J. Love
---------------------------------
Fred J. Love, President
Convertible Enterprises, Inc.
By: /s/ Fred J. Love
---------------------------------
Fred J. Love, President
Bright Star Enterprises, Inc.
By: /s/ Fred J. Love
---------------------------------
Fred J. Love, President
Jennifer Advertising, Inc.
By: /s/ Fred J. Love
---------------------------------
Fred J. Love, President
-12-
