FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 17, 1995
KASH N' KARRY FOOD STORES, INC.
(Exact name of registrant as specified in its charter)
Commission File No. 33-25621
Delaware 95-4161591
(State of incorporation) (IRS employer identification number)
6422 Harney Road, Tampa, Florida 33610
(Address of registrant's principal executive offices)
(813) 621-0200
(Registrant's telephone number, including area code)
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Item 4. Changes in Registrant's Certifying Accountants.
On February 17, 1995, KPMG Peat Marwick LLP ("KPMG"), the
registrant's independent accountants who were previously engaged as the
principal accountants to audit the registrant's financial statements,
were dismissed. KPMG's report on the registrant's financial statements
for either of the last two years contained no adverse opinion or a
disclaimer of opinion, or was qualified or modified as to uncertainty,
audit scope, or accounting principles, except that KPMG's report on the
1994 financial statements of registrant contained a separate paragraph
stating that "Kash n' Karry Food Stores, Inc., has suffered recurring
losses from operations and has a net capital deficiency. As discussed in
note 1 to the financial statements, Kash n' Karry Food Stores, Inc.,
filed a pre-packaged petition under Chapter 11 of the United States
Bankruptcy Code on November 9, 1994. These matters raise substantial
doubt about its ability to continue as a going concern. The financial
statements and financial statement schedules do not include any
adjustments that might result from the outcome of this uncertainty." The
registrant's plan of reorganization was approved by the bankruptcy court
on December 12, 1994, and became effective on December 29, 1994.
The decision to change accountants was recommended by the
registrant's audit committee and approved by the registrant's Board of
Directors. During the registrant's two most recent fiscal years and any
subsequent interim period preceding the dismissal, there were no
disagreements with KPMG on any matter of accounting principles or
practices, financial statement disclosures, or auditing scope or
procedures, which disagreements, if not resolved to the satisfaction of
KPMG, would have caused it to make reference to the subject matter of the
disagreements in connection with its report. Also, during the
aforementioned period, there were no reportable events.
On February 17, 1995, the registrant engaged Coopers & Lybrand
L.L.P as the principal accountants to audit the registrant's financial
statements for the fiscal year ending July 30, 1995.
Item 7. Exhibits.
Exhibit No. Description
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16.1 Letter dated February 23, 1995, from KPMG Peat Marwick
LLP to the Securities and Exchange Commission.
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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 thereunto duly authorized.
KASH N' KARRY FOOD STORES, INC.
/S/ RICHARD D. COLEMAN
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Richard D. Coleman
Vice President and Controller
DATED: February 23, 1995
(on KPMG Peat Marwick LLP letterhead)
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for Kash n' Karry Food Stores,
Inc. and, under date of September 16, 1994, except with respect to notes
1 and 5, which were as of November 9, 1994, we reported on the balance
sheets of Kash n' Karry Food Stores, Inc. as of July 31, 1994 and August
1, 1993 and the related statements of operations, stockholders' deficit,
and cash flows for the fifty-two weeks ended July 31, 1994 and August 1,
1993 and fifty-three weeks ended August 2, 1992. On February 17, 1995,
our appointment as principal accounts was terminated. We have read Kash
n' Karry Food Stores, Inc.'s statements included under Item 4 of its Form
8-K dated February 17, 1995, and we agree with such statements, except
that we are not in a position to agree or disagree with Kash n' Karry
Food Stores, Inc.'s statements that the change in accountants was
recommended by the registrant's audit committee and approved by the
registrant's Board of Directors.
/s/ KPMG Peat Marwick LLP
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February 23, 1995
Tampa, Florida
