FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of Report (date of earliest event reported): December 31, 1997
TOPS APPLIANCE CITY, INC.
(Exact name of registrant as specified in its charter)
New Jersey 0-20498 22-3174554
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
45 Brunswick Avenue, Edison, New Jersey 08818
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code:(908) 248-2850
N/A
(Former name or former address, if changed since last report)
Page 1 of 3 pages
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Item 1. Changes in Control of Registrant
Not Applicable
Item 2. Acquisition or Disposal of Assets
Not Applicable
Item 3. Bankruptcy or Receivership
Not Applicable
Item 4. Changes in Registrant's Certifying Accountant
Not Applicable
Item 5. Other Events
Philip M. Schmidt has resigned as President of the
Registrant.
The Registrant has extended the term of the employment
agreement of Thomas Zambelli through December 31, 1999.
Mr. Zambelli serves as the Registrant's Senior Vice
President and Chief Financial Officer of the Registrant.
His original employment agreement expired on December 31,
1997. The Registrant has also entered into an amendment
to Richard Jones' employment agreement extending his
employment agreement through December 31, 1999. Mr.
Jones serves as Senior Vice President and Chief Operating
Officer of the Registrant.
Item 6. Resignation of Registrant's Directors
Not Applicable
Item 7. Financial Statements and Exhibits
(a) Financial statements of business acquired.
Not Applicable
(b) Pro forma financial information
Not Applicable
<PAGE>
(c) Exhibits
Press Release dated December 31, 1997 announcing
resignation of Philip M. Schmidt.
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.
TOPS APPLIANCE CITY, INC.
BY:/s/ Robert Gross
-------------------------
ROBERT GROSS,
Chief Executive Officer
Dated: February 9, 1998
3
<PAGE>
12/31/97
For Immediate Release:
By mutual agreement, Phil Schmidt has resigned his position as
President of Tops Appliance City, Inc., effective immediately. His
position will not be filled, and the functions have been absorbed
by Rick Jones, Senior Vice President and COO and Thomas L.
Zambelli, Senior Vice President and CFO.
Also, Tops announced the promotion of Frank Benesz to the position
of Vice President of Loss Prevention.
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