SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
FAMILY BARGAIN CORPORATION
(Name of Issuer)
Common Stock, Par Value $0.01 Per Share
(Title of Class of Securities)
306889403
(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
October 27, 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>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 306889403 Page 2 of 9 Pages
- ------------------- -----------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Wynnefield Small Cap Value Fund, Ltd.
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 136,327
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH --
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 136,327
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
136,327 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.77%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
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(Page 2 of 9 Pages)
<PAGE>
SCHEDULE 13D
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CUSIP No. 306889403 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 65,000
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH --
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 65,000
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
65,000 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.32%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
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(Page 3 of 9 Pages)
<PAGE>
SCHEDULE 13D
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CUSIP No. 306889403 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 76,673
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH --
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 76,673
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
76,673 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.56%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
(Page 4 of 9 Pages)
<PAGE>
Item 1. Security and Issuer.
This Statement relates to shares of the Common Stock, $0.01 par value per
share (the "Shares"), of Family Bargain Corporation, a Delaware corporation (the
"Issuer"). The principal executive offices of the Issuer are located at 4000
Ruffin Road, San Diego, California 92123-1866.
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"). The Partnership, the Fund and Partnership-I 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 for the consideration
shown in the following table:
(Page 5 of 9 Pages)
<PAGE>
Name Number of Shares Consideration Paid
---- ---------------- ------------------
Partnership 136,327 $213,411.83
Partnership-I 76,673 119,025.99
Fund 65,000 98,562.50
Such Shares were paid for from the working capital of each entity in the
Wynnefield Group, each of which maintains an 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.
The Wynnefield Group acquired the Shares reported in Item 5 below for
investment purposes. If the Wynnefield Group determines that the ownership of
the Issuer's securities represent an attractive investment opportunity, they or
any of them reserve the right to buy additional Shares with the understanding
that neither such purchases nor the exercise of their rights as stockholders is
intended as a "control" device with respect to the Issuer.
Except as set forth above, 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 Wynnefield Group
beneficially owned a total of 278,000 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
Wynnefield Group. The Shares owned by the Wynnefield Group represent
approximately 5.64% of the outstanding Shares of the Issuer, based on the
4,929,822 Shares reported as outstanding on August 22, 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.
(Page 6 of 9 Pages)
<PAGE>
Melnick disclaim beneficial ownership of any Shares owned by
the 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 278,000 Shares owned by the entities comprising the
Wynnefield Group.
(c) The entities in the Wynnefield Group made their purchases of Shares in
the over-the-counter market as follows:
Number Price
Name Date of Shares Per Share
---- ---- --------- ---------
Partnership January 17, 1997 6,531 $2.0625
Partnership January 23, 1997 9,796 $2.0825
Partnership January 30, 1997 6,531 $2.0625
Partnership August 8, 1997 3,918 $1.7815
Partnership August 8, 1997 3,918 $1.7500
Partnership August 12, 1997 16,327 $1.8750
Partnership August 22, 1997 3,919 $1.4375
Partnership August 25, 1997 3,919 $1.3750
Partnership August 26, 1997 11,756 $1.3125
Partnership August 28,1997 23,512 $1.3750
Partnership September 29, 1997 19,200 $1.4375
Partnership October 20, 1997 7,200 $1.3125
Partnership October 22, 1997 4,800 $1.3125
Partnership October 23, 1997 4,800 $1.3125
Partnership October 27, 1997 10,200 $1.3125
(Page 7 of 9 Pages)
<PAGE>
Partnership I January 17, 19987 3,469 $2.0625
Partnership I January 23, 1997 5,204 $2.0625
Partnership I January 30, 1997 3,469 $2.0625
Partnership I August 8, 1997 2,082 $1.7813
Partnership I August 8, 1997 2,082 $1.7500
Partnership I August 12, 1997 8,673 $1.8750
Partnership I August 22,1997 2,081 $1.4375
Partnership I August 25,1997 2,081 $1.3750
Partnership I August 26, 1997 6,244 $1.3125
Partnership I August 28, 1997 12,488 $1.3750
Partnership I September 29, 1997 10,800 $1.4375
Partnership I October 20, 1997 4,800 $1.3125
Partnership I October 22, 1997 3,200 $1.3125
Partnership I October 23,1997 3,200 $1.3125
Partnership I October 27,1997 6,800 $1.3125
Fund August 13, 1997 6,000 $1.8125
Fund August 15, 1997 5,000 $1.8125
Fund August 19, 1997 10,000 $1.7500
Fund August 28, 1997 9,000 $1.3750
Fund September 16, 1997 10,000 $1.3750
Fund September 25, 1997 6,000 $1.4375
Fund September 29, 1997 14,000 $1.4375
Fund October 13, 1997 5,000 $1.2500
(Page 8 of 9 Pages)
<PAGE>
(d) Each of the entities comprising the Wynnefield Group as owners of the
Shares covered by 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
covered by this Statement.
(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: November 3, 1997
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By: Wynnefield Capital Management, LLC,
General Partner
By: /s/ Nelson Obus
------------------------------------------
Nelson Obus, Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield Capital, Inc.
/s/ Nelson Obus
------------------------------------------
Nelson Obus, President
