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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. N.A.)*
Braun's Fashions Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
105658-108
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(CUSIP Number)
Marc C. Ostrow, c/o Pennwood Capital Corporation
477 Madison Avenue, New York, New York 10022
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
September 25, 1997
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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 / /.
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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).
(Continued on following page(s))
Page 1 of 4 Pages
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CUSIP No. 105658-108 13D Page 2 of 4 Pages
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(1) Names of Reporting Persons.
S.S. or I.R.S. Identification Nos. of Above Persons
Marc C. Ostrow
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(2) Check the Appropriate Box if a Member (a) / /
of a Group (b) /X/
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(3) SEC Use Only
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(4) Source of Funds*
N.A.
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
N.A.
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(6) Citizenship or Place of Organization
United States of America
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Number of Shares (7) Sole Voting
Beneficially Owned Power 206,667
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power N.A.
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(9) Sole Dispositive
Power 206,667
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(10) Shared Dispositive
Power N.A.
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
206,667
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
N.A.
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(13) Percent of Class Represented by Amount in Row (11)
4.3%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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Page 3 of 4 Pages
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ITEM 1. SECURITY AND ISSUER
The class of equity securities is the Common Stock of Brauns
Fashions Corporation. The principal executive offices of the Issuer
are located at 2400 Xenium Lane North, Plymouth, Minnesota 55441
ITEM 2. IDENTITY AND BACKGROUND
This Statement is being filed on behalf of Marc C. Ostrow, a United
States citizen. Mr. Ostrow's business address is c/o Pennwood
Capital Corporation, 477 Madison Avenue, New York, New York 10022.
Mr. Ostrow is President of Pennwood Capital Corporation, a private
investment and management firm.
During the last five years, Mr. Ostrow has not been convicted or
subject to a criminal proceeding. Nor has he been a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which he was or is subject to a
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, Federal or state
securities laws or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
See Item 5 below.
ITEM 4. PURPOSE OF TRANSACTION
For diversification.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As of the date of this Schedule 13D, Mr. Ostrow owns outright in his
own name, and has sole power to vote, 206,667 shares of Brauns Common
Stock, including 6,667 shares issuable pursuant to currently
exercisable stock options. No other person has an interest in these
securities.
During the 60 days ending September 25, 1997, Mr. Ostrow sold 72,113
shares of the Issuer at prices ranging from $14.75 to $15.32, and
ceased to be a beneficial owner of more than 5% of Braun's Common
Stock.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
There are no contracts, arrangements, understandings or relationships
to which Mr. Ostrow is a party with respect to any securities of the
Issuer.
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Page 4 of 4 Pages
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ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None.
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.
October 8, 1997
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(Date)
/s/ Marc C. Ostrow
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(Signature)
Marc C. Ostrow
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(Name/Title)
