UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): June 24, 1996
CORPORATE RENAISSANCE GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
05723210 13-3701354
(Commission File Number) (IRS Employer Identification Number)
1185 Avenue of the Americas
18th Floor
New York, New York 10036
(Address of principal executive offices)
Registrant's telephone number, including area code: 212-730-2000
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Item 2. Acquisition or Disposition of Assets.
On June 24, 1996, Corporate Renaissance Group, Inc. (the "Company") sold
approximately $4.456 million principal amount of senior secured bank debt (the
"Bank Debt") of Wherehouse Entertainment, Inc. ("Wherehouse") to a private non-
affiliated party (the "Buyer"). Wherehouse, based in Torrence, California,
operates a chain of entertainment retail stores in the Western U.S. primarily
under the name "The Wherehouse." Wherehouse and its parent have been operating
under Chapter 11 bankruptcy protection since August 1993.
The Bank Debt, which was acquired in August, 1995, was sold for a sales
price of $2.23 million. The terms of the sale of the Bank Debt were arrived at
through arm's-length negotiations with the Buyer.
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SIGNATURES
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.
CORPORATE RENAISSANCE GROUP, INC.
Date: July 3, 1996 By: /s/ Martin E. Winter
_______________________________
Martin E. Winter
Secretary/Treasurer
(Principal Financial and Accounting Officer)
