SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 17, 1996 (October 15, 1996)
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Boddie-Noell Properties, Inc.
(Exact name of registrant as specified in its charter)
Delaware 1-9496 56-1574675
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3710 One First Union Center, Charlotte, North Carolina 28202-6032
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 704/333-1367
Total number of pages: 4
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Item 4. Changes in Registrant's Certifying Accountant.
Effective October 15, 1996, Boddie-Noell Properties, Inc. (the "Company")
dismissed its prior certifying accountants, Arthur Andersen LLP ("Andersen") and
retained as its new certifying accountants, Ernst & Young LLP.
Andersen's reports on the Company's financial statements during the two most
recent fiscal years contained no adverse opinion or disclaimer of opinion, nor
were qualified or modified as to uncertainty, audit scope or accounting
principles.
The decision to change accountants was approved by the Audit Committee of the
Company's Board of Directors.
During the two most recent fiscal years and all subsequent interim periods
preceding the date hereof, there were no disagreements between the Company and
Andersen on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure, which disagreements, if not
resolved to the satisfaction of Andersen, would have caused Andersen to make
reference to the subject matter of disagreement in connection with Andersen's
reports.
None of the "reportable events" described in Item 304. (a)(1)(v) of Regulation
S-K occurred with respect to the Company within the two most recent fiscal years
and any subsequent interim period to the date hereof.
Effective October 15, 1996, the Company engaged Ernst & Young LLP as its
principal accountant. During the two most recent fiscal years and all subsequent
interim periods preceding the date hereof, the Company has not consulted Ernst &
Young LLP regarding any matters or events as set forth in Item 304. (a)(2) of
Regulation S-K.
The Company has requested Andersen to furnish it with a letter addressed to the
Securities and Exchange Commission stating whether Andersen agrees with the
statements made by the Company in this Item 4. A copy of the letter from Arthur
Andersen LLP to the Securities and Exchange Commission is filed as Exhibit 16
hereto.
Item 7. Financial Statements and Exhibits.
Exhibit 16 Letter from Arthur Andersen LLP to the Securities and Exchange
Commission dated October 16, 1996.
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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.
BODDIE-NOELL PROPERTIES, INC.
(Registrant)
Date: October 17, 1996 by: /s/ Pamela B. Novak
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Pamela B. Novak
Vice President - Controller
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Arthur
Andersen
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Arthur Andersen LLP
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Suite 3800
100 North Tryon Street
Charlotte, NC 28202-4000
704 332 0092
October 16, 1996
Securities and Exchange Commission
450 5th Street, NW
Washington, DC 20549
To Whom It May Concern:
We have read Item 4 (except for paragraphs 3 and 6) included in the attached
Form 8-K dated October 15, 1996 of Boddie-Noell Properties, Inc. to be filed
with the Securities and Exchange Commission and are in agreement with the
statements contained therein.
Very truly yours,
Arthur Andersen LLP
