UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. 6)
Salant Corp.
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(Name of Issuer)
Common Stock, Par Value $1.00 Per Share
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(Title of Class of Securities)
793897109
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(CUSIP Number)
Judy K. Mencher
DDJ Capital Management, LLC
141 Linden Street, Suite 4
Wellesley, MA 02181
781-283-8500
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(Name, address and telephone number of person authorized to receive notices and
communications)
May 19, 1998
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(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 [ ].
(Continued on following pages)
(Page 1 of 10 Pages)
<PAGE>
SCHEDULE 13D
CUSIP NO. 793897109 PAGE 2 OF 10 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DDJ Capital Management, LLC
04-3300754
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
SEE ITEM #5 (a) [ X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Commonwealth of Massachusetts
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,275,730
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,275,730
PERSON WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,275,730
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.5%
14 TYPE OF REPORTING PERSON *
IA
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP NO. 793897109 PAGE 3 OF 10 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Galileo Fund, L.P.
04-3258283
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
SEE ITEM #5 (a) [ X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF 7 SOLE VOTING POWER
SHARES 24,400
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 24,400
PERSON WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,400
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.2%
14 TYPE OF REPORTING PERSON *
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP NO. 793897109 PAGE 4 OF 10 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DDJ Overseas Corp.
98-0151108
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
SEE ITEM #5 (a) [ X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,251,330
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,251,330
PERSON WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,251,330
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.4%
14 TYPE OF REPORTING PERSON *
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP NO. 793897109 PAGE 5 OF 10 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DDJ Galileo, LLC
04-3304422
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
SEE ITEM #5 (a) [ X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Commonwealth of Massachusetts
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,275,730
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,275,730
PERSON WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,275,730
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.5%
14 TYPE OF REPORTING PERSON *
OO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP NO. 793897109 PAGE 6 OF 10 PAGES
ITEM 1. SECURITY AND ISSUER:
This Amendment No. 6 to Schedule 13D ("Amendment No. 6") should be read in
conjunction with the Schedule 13D dated July 11, 1996 ("Schedule 13D");
Amendment No. 1 to Schedule 13D dated September 30, 1996 ("Amendment No. 1");
Amendment No. 2 to Schedule 13D dated October 17, 1996 ("Amendment No. 2");
Amendment No. 3 to Schedule 13D dated November 4, 1996 ("Amendment No. 3") and
Amendment No. 4 to Schedule 13D dated February 11, 1997 ("Amendment No. 4") and
Amendment No. 5 to Schedule 13D dated April 20, 1998 ("Amendment No. 5")
(collectively, "Amendment Nos. 1 through 5") each as filed with the Securities
and Exchange Commission by DDJ Capital Management, LLC, a Massachusetts limited
liability company, and certain affiliates. This Amendment No. 6 amends the
Schedule 13D, Amendment Nos. 1 through 5 with respect to those items listed
below. All capitalized terms not otherwise defined herein shall have the
meanings ascribed thereto on the Schedule 13D.
This filing of this Amendment No. 6 is not, and should be deemed to be, an
admission that the Schedule 13D or any Amendment thereto is required to be
filed.
This Amendment No. 5 relates to shares of the common stock , par value
$1.00 per share (the "Shares") of Salant Corp. (the "Company"). The principal
executive offices of the Company are located at 1114 Avenue of the Americas, New
York, NY 10036.
ITEM 2. IDENTITY AND BACKGROUND:
Paragraphs 1 and 2 in Item 2 are deleted in its entirety and amended as
follows:
This statement is being filed jointly by DDJ Capital Management, LLC.
("DDJ"), a Massachusetts limited liability company, The Galileo Fund, L.P., a
Delaware limited partnership, DDJ Overseas Corporation, a Cayman Islands
corporation and DDJ Galileo, LLC, a Massachusetts limited liability company.
Each of the aforementioned entities shall be collectively referred to as the
"DDJ Affiliates". DDJ Galileo, LLC is general partner of, and DDJ is the
investment manager for, The Galileo Fund, L.P. DDJ Galileo owns all of the
voting securities of, and DDJ is the investment manager for, DDJ Overseas Corp.
The Shares described herein are owned by one or more of The Galileo Fund,
L.P. and DDJ Overseas Corp. (jointly, the "Funds"). The principal office of
each of DDJ and the DDJ Affiliates, with the exception of DDJ Overseas Corp. are
located at 141 Linden Street, Suite 4,
<PAGE>
SCHEDULE 13D
CUSIP NO. 793897109 PAGE 7 OF 10 PAGES
Wellesley, Massachusetts 02181. The principal office of DDJ Overseas Corp. is:
c/o Goldman Sachs (Cayman), Harbour Centre, George Town, Post Office Box 896,
Grand Cayman Islands.
ITEM 3. SOURCES AND AMOUNT OF FUNDS OR OTHER CONSIDERATION:
Item 3 is deleted in its entirety and amended as follows:
The Funds, which own or owned Shares purchased an aggregate of 1,275,730
Shares for cash in the amount of approximately $4,769,337.92 including brokerage
commissions. All of 24,400 Shares owned by The Galileo Fund, L.P. were
purchased for cash and all of the 1,251,330 Shares owned by DDJ Overseas Corp.
were purchased for cash or on margin pursuant to a typical customer margin
agreement with Goldman Sachs & Co.
Shares sold by the Funds since April 21, 1998 are set forth on the attached
Schedule B.
ITEM 5. INTEREST IN SECURITIES OF ISSUER:
Paragraph (a) in Item 5 is deleted in its entirety and amended as follows:
(a) The Galileo Fund, L.P. owns, and DDJ Galileo, LLC and DDJ beneficially
own, as general partner and investment manager, respectively, of The Galileo
Fund, L.P. 24,400 Shares, or approximately .2% of the outstanding Shares of the
Company. DDJ Overseas Corp. owns, and DDJ, as investment manager for DDJ
Overseas Corp. beneficially owns 1,251,330 Shares or approximately 8.4% of the
Company. Accordingly, DDJ, as investment manager to the Funds may be deemed to
beneficially own 1,275,730 Shares, or approximately 8.5% of the outstanding
Shares of the Company. Judy K. Mencher, a Member of DDJ and DDJ Galileo, LLC
and a Vice President of DDJ Overseas Corp. beneficially owns 3,000 Shares
representing .0%. She has sole power to vote and to dispose of 1,500 Shares;
and both she and the beneficiary of the account each have sole power to vote and
to dispose of 1,500 Shares. Neither DDJ nor any of the DDJ Affiliates and, to
the best of knowledge of DDJ and DDJ Affiliates, with the exception of Ms.
Mencher, none of the persons named in Schedule A, beneficially own any other
Shares.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS:
Not Applicable.
<PAGE>
SCHEDULE 13D
CUSIP NO. 793897109 PAGE 8 OF 10 PAGES
Signature:
========
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
DDJ CAPITAL MANAGEMENT, LLC
By: /s/ Judy K. Mencher
--------------------------------
Judy K. Mencher
Member
<PAGE>
SCHEDULE 13D
CUSIP NO. 793897109 PAGE 9 OF 10 PAGES
SCHEDULE A
===========
The name and present principal occupation or employment of each executive
officer and member of DDJ Capital Management, LLC and each director of the DDJ
Affiliates are set forth below. The business address of each person and the
address of the corporation or organization in which such employment is conducted
is 141 Linden Street, Suite 4, Wellesley, MA 02181, except that the principal
address of DDJ Overseas Corp. and Mr. Austin is set forth in Item 2. Mr.
Harmetz, Mr. Breazzano and Ms. Mencher are U. S. citizens. Mr. Austin and Mr.
Hunter are Cayman Islands citizen.
NAME PRINCIPAL OCCUPATION OR EMPLOYMENT
===== =======================================
Daniel G. HarmetzPrincipal of DDJ Capital Management, LLC, DDJ Galileo, LLC and
DDJ Copernicus, LLC
David J. Breazzano Principal of DDJ Capital Management, LLC, DDJ Galileo,
LLC and DDJ Copernicus, LLC
Judy K. Mencher Principal of DDJ Capital Management, LLC, DDJ Galileo, LLC,
DDJ Copernicus, LLC, Vice President of DDJ Overseas
Corporation and Director of Kepler Overseas Corp.
Michael Austin Director of DDJ Overseas Corporation, Director of Kepler
Overseas Corp.; Corporate Director
Dennis Hunter Director of Kepler Overseas Corporation; Managing Director of
Queensgate Bank
<PAGE>
SCHEDULE 13D
CUSIP NO. 793897109 PAGE 10 OF 10 PAGES
SCHEDULE B
===========
SALANT CORP.
======================
Set forth below is an itemization of all sales of Shares of Common Stock
since April 21, 1998. The transactions were made for cash in open market
transactions.
TYPE:
PURCHASE AGGREGATE
DATE OR SALE SHARES PRICE
4/23/98 SALE (15,000) ($10,012.15)
4/29/98 SALE (30,500) ($20,513.59)
4/30/98 SALE (13,000) ($8,801.99)
5/1/98 SALE (3,500) ($2,336.16)
5/4/98 SALE (25,000) ($16,686.92)
5/7/98 SALE (10,800) ($7,208.75)
5/11/98 SALE (5,000) ($3,337.38)
5/12/98 SALE (20,000) ($13,349.54)
5/14/98 SALE (550) ($332.74)
5/14/98 SALE (4,550) ($2,752.65)
5/19/98 SALE (150,000) ($81,372.18)
5/20/98 SALE (19,700) ($11,918.08)
5/21/98 SALE (39,000) ($23,594.18)
5/22/98 SALE (400) ($241.99)
