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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
F O R M 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report
September 18, 1997
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Solo Serve Corporation
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-19994 74-2048057
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(Commission File Number) (I.R.S. Employer Identification Number)
1610 Cornerway Blvd.
San Antonio, Texas 78219
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(210) 662-6262
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
a. On September 18, 1997, Solo Serve Corporation (the "Company")
dismissed Price Waterhouse LLP as its independent accountants. The dismissal
was approved by the Audit Committee and the Company's Board of Directors.
Price Waterhouse LLP's reports on the financial statements for the two most
recent fiscal years did not contain an adverse opinion, disclaimer of opinion,
qualification or modification as to uncertainty, audit scope or accounting
principles, except that such reports included an explanatory paragraph
expressing substantial doubt as to the Company's ability to continue as a going
concern. Furthermore, during the two most recent fiscal years and through
September 18, 1997, there have been no disagreements with Price Waterhouse LLP
on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreements, if not
resolved to the satisfaction of Price Waterhouse LLP, would have caused that
firm to make reference to the subject matter of such disagreements in its
reports on the financial statements for such years. The Company has requested
Price Waterhouse LLP to furnish it with a letter addressed to the Securities
and Exchange Commission stating whether it agrees with the above statements. A
copy of such letter, dated September 23, 1997, is filed as Exhibit 16 to this
Form 8-K.
b. On September 18, 1997, the Company appointed Ernst & Young LLP as
its independent accountants. During the two most recent fiscal years and
through September 18, 1997, the Company has not consulted with Ernst & Young
LLP regarding the application of accounting principles to a specific
transaction, either completed or proposed, or the type of audit opinion that
might be rendered on the Company's financial statements.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following exhibits are filed as part of this
report:
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<CAPTION>
Number Document
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<S> <C>
16 Letter of Price Waterhouse LLP dated September 23,
1997
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SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SOLO SERVE CORPORATION
By: /s/ Ross E. Bacon
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Ross E. Bacon,
Secretary and Chief Financial Officer
Dated: September 18, 1997
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description
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<S> <C>
16 Letter of Price Waterhouse LLP dated September 23,
1997
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Exhibit 16
Independent Accountant's 8-K Letter
September 23, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
Solo Serve Corporation
We have read Item 4 of Solo Serve Corporation's Form 8-K dated September 18,
1997 and are in agreement with the statements contained in paragraph 4(a)
therein.
Yours very truly,
Price Waterhouse LLP
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