SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 11)*
Schultz Sav-O Stores, Inc.
(Name of Issuer)
Common Stock, $.05 par value
(Title of Class of Securities)
808196 10 9
(CUSIP Number)
Check the following box if a fee is being paid with this statement [_].
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five
percent or less of such class.) (See Rule 13d-7.)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject
class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover
page.
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>
CUSIP No. 808196 10 9
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Schultz Sav-O Stores Retirement Savings Plan (f/k/a Schultz
Sav-O Stores Salaried Employees' Profit Sharing Trust)
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
Not Applicable
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
5 SOLE VOTING POWER
NUMBER OF
0
SHARES
6 SHARED VOTING POWER
BENEFICIALLY
957,065*
OWNED BY
7 SOLE DISPOSITIVE POWER
EACH
0
REPORTING
PERSON
8 SHARED DISPOSITIVE POWER
WITH
957,065*
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
957,065*
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [_]
N/A
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
20.6%
12 TYPE OF REPORTING PERSON*
EP
*SEE INSTRUCTIONS BEFORE FILLING OUT!
________________
* On September 15, 1995 Schultz Sav-O Stores, Inc. effected a two-for-
one stock split in the form of a 100% stock dividend and all share
ownership data has been adjusted accordingly.
This Amendment No. 11 to Schedule 13G with regard to Schultz
Sav-O Stores, Inc. is being filed on behalf of the undersigned to amend
Item 4 of the originally filed Schedule 13G. Except as expressly stated
herein, there have been no material changes in the information set forth
in the Schedule 13G.
Item 4. Ownership (as of December 31, 1995)
(a) Amount Beneficially Owned:
957,065*
(b) Percent of Class:
20.6%
(c) Number of shares as to which entity has:
(i) sole power to vote or to direct the vote: 0 Shares
(ii) shared power to vote or to direct the vote: 957,065*
Shares
(iii) sole power to dispose or to direct the
disposition of: 0 Shares
(iv) shared power to dispose or to direct the disposition
of: 957,065* Shares
________________
* On September 15, 1995 Schultz Sav-O Stores, Inc. effected a two-for-
one stock split in the form of a 100% stock dividend and all share
ownership data has been adjusted accordingly.
<PAGE>
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.
January 30, 1996
Date
SCHULTZ SAV-O STORES
RETIREMENT SAVINGS PLAN
(f/k/a Schultz Sav-O Stores Salaried
Employees' Profit Sharing Trust)
By: /S/ JOHN H. DAHLY
John H. Dahly
Co-Administrator
