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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) September 4, 1996
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BEN FRANKLIN RETAIL STORES, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-20079 25-1552155
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(Commission File Number) (I.R.S. Employer Identification No.)
708-462-6100
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. OTHER EVENTS.
On September 4, 1996, the U.S. Bankruptcy Court for the Northern District
of Illinois entered an order (the "Order") approving the use by Ben Franklin
Retail Stores, Inc. and its subsidiaries Ben Franklin Stores, Inc., Ben Franklin
Crafts, Inc., Ben Franklin Realty Corp., Ben Franklin Realty Corp. II, and Ben
Franklin Transportation, Inc. (collectively, the "Company") of up to $59 million
in cash collateral under Section 361 of the United States Bankruptcy Code, in
accordance with the Company's business plan through December 31, 1996. The
Order was approved by the Company's secured lenders and will be monitored by
such secured lenders in accordance with operating covenants that relate to
collection of receivables, sales of non-core assets, total expenditures,
inventory purchases, and outstanding debt balances.
SIGNATURE
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 hereunto duly authorized.
BEN FRANKLIN RETAIL STORES, INC.
Date: October 11, 1996 By: /s/Richard T. Krubeck
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Richard T. Krubeck, Sr. Vice President -
General Counsel and Secretary
