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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Advantica Restaurant Group, Inc.
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( Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
00758B109
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(CUSIP Number)
December 31, 1999
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ x ] Rule 13d-1(d)
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 1 of 9 Pages
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CUSIP No. 00758B109
1. NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
GBU Inc.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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5. SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH
REPORTING PERSON WITH -0-
- --------------------------------------------------------------------------------
6. SHARED VOTING POWER
-0-
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7. SOLE DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
-0-
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12. TYPE OF REPORTING PERSON *
IA
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* SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 00758B109
Page 2 of 9 Pages
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1. NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
GEM Capital Management, Inc.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- ----------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH -0-
REPORTING PERSON
WITH
- --------------------------------------------------------------------------------
6. SHARED VOTING POWER
-0-
- --------------------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
-0-
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON *
IA
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 00758B109
1. NAMES OF REPORTING PERSONS
Page 3 of 9 Pages
<PAGE> 4
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Gerald B. Unterman
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- ----------------------------------------------------------------------------
3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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5. SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH
REPORTING PERSON WITH
-0-
- --------------------------------------------------------------------------------
6. SHARED VOTING POWER
-0-
- --------------------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
-0-
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON *
IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT
Page 4 of 9 Pages
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Item 1(a). Name of Issuer
Advantica Restaurant Group, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices
203 East Main Street
Spartanburg, SC 29319
Item 2(a). Name of Person(s) Filing
GBU Inc.
GEM Capital Management, Inc.
Gerald B. Unterman
Item 2(b). Address of Principal Business Office
70 East 55th Street - 12th Floor New York, NY 10022
Item 2(c). Citizenship
The information contained in Item 4 on the cover pages is
incorporated hereby by reference
Item 2(d). Title of Class of Securities
Common Stock, $.01 par value
Item 2(e). CUSIP Number
00758B109
Item 3. This Statement is filed pursuant to
Rule 13d-1(d)
Item 4. Ownership as of December 31, 1999
The information contained in Items 5-11 on the cover pages is
incorporated hereby by reference
Page 5 of 9 Pages
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Item 5. Ownership of Five Percent or Less of a Class
This Statement is being filed to report the fact that as of
December 31, 1999 the Reporting Persons have ceased to be the
beneficial owner of more than five percent (5%) of the Common
Stock of Advantica Restaurant Group, Inc.
Item 6. Ownership of More Than Five Percent on Behalf of Another
Person
Not Applicable
Item 7. Identification and Classification of Certain Subsidiaries
Not Applicable
Item 8. Identification and Classification of Members of a Group
See Exhibit A annexed hereto
Item 9. Notice of Dissolution of a Group
Not Applicable
Item 10. Certification
By signing below the undersigned certify that, to the best of their
knowledge and belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
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 accurate.
SIGNATURE:
Date: January 19, 2000
GBU INC.
By: /s/ Gerald B. Unterman
--------------------------
Gerald B. Unterman
President
Page 6 of 9 Pages
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GEM CAPITAL MANAGEMENT, INC.
By: /s/ Gerald B. Unterman
--------------------------
Gerald B. Unterman
President
/s/ Gerald B. Unterman
-----------------------------
GERALD B. UNTERMAN
Page 7 of 9 Pages
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EXHIBIT A
Mr. Unterman is the President, a director and controlling shareholder
of GBU Inc. ("GBU"), an investment adviser registered under Section 203 of the
Investment Advisers Act of 1940 (the "Advisers Act"). GBU is the sole general
partner of Oak Tree Partners, L.P. and GEM Convertible Securities Partners, L.P.
Mr. Unterman is also the President, director and majority shareholder of GEM
Capital Management, Inc. ("GEM Capital"), an investment adviser registered under
the Advisers Act. GEM Capital is an investment adviser for various managed
accounts over which it has investment discretion.
Page 8 of 9 Pages
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EXHIBIT B
The undersigned hereby agree that for the purposes of complying with
Regulation 13D promulgated under the Securities Exchange Act of 1934, as
amended, relating to the reporting of beneficial ownership, from time to time,
of the Common Stock of Advantica Restaurant Group, Inc., by each of the
undersigned, only one statement on Schedule 13G (or one Amendment, as the case
may be, in the event an amendment to the Schedule 13G is required to be filed),
will be filed on behalf of each of the undersigned.
Dated: February 10, 1999
GBU INC.
By:/s/ Gerald B. Unterman
-------------------------
Gerald B. Unterman
President
GEM CAPITAL MANAGEMENT, INC.
By:/s/ Gerald B. Unterman
-------------------------
Gerald B. Unterman
President
/s/ Gerald B. Unterman
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GERALD B. UNTERMAN
Page 9 of 9 Pages
