SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G/A
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
Service Merchandise Company, Inc.
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(Name of Issuer)
Common Stock, par value $.50 per share
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(Title of Class of Securities)
817 587 108
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(CUSIP Number)
Check the following box if a fee is being paid with this
statement. (A fee is not required only if the filing person:
(1) has a previous statement on file reporting beneficial
ownership of more than five percent of the class of securities
described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
*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 the disclosures provided
in a prior cover page.
The information required in 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(s))
Page 1 of 5 Pages
<PAGE>
CUSIP No. 817 587 108 13G/A
Page 2 of 5 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE PERSON
Raymond Zimmerman
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
NUMBER 6,701,146
OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 578,032
BY -------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 6,701,146
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8 SHARED DISPOSITIVE POWER
578,032
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,279,178
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
X
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.3%
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 3 of 5 Pages
SCHEDULE 13G/A
Item 1(a). Name of Issuer: Service Merchandise Company,
Inc.
Item 1(b). Address of Issuer's 7100 Service Merchandise Drive
Principal Executive Brentwood, Tennessee 37027
Offices:
Item 2(a). Name of Person filing: Raymond Zimmerman
Item 2(b). Address of Principal 7100 Service Merchandise Drive
Business Office: Brentwood, Tennessee 37027
Item 2(c). Citizenship: United States of America
Item 2(d). Title of Class Common Stock, par value $.50
of Securities: per share (the "Shares")
Item 2(e). CUSIP Number: 817 587 108
Item 3. Not applicable
Item 4. Ownership.
(a) Amount Beneficially
owned: 5,210,235(1)(2)
1,502,663(3)
566,280(4)
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TOTAL: 7,279,178
(b) Percent of Class: 7.3%
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
6,701,146 (5)
(ii) shared power to vote or direct the vote:
578,032
(iii) sole power to dispose or to direct the
disposition of:
6,701,146 (5)
(iv) shared power to dispose or to direct the
disposition of:
578,032
(1) Includes currently exercisable options to purchase
631,875 Shares and 11,752 Shares held by the
trustee under the Service Merchandise Savings and
Investment Plan. Does not include Shares referred
to in notes (3) or (4).
(2) In 1990, The Service Merchandise Foundation, a
private charitable foundation (the "Foundation"),
was formed, and thereafter, the Internal Revenue
Service approved the Foundation's application for
tax-exempt status. As a charitable contribution,
on October 15, 1990, the Company granted the
Foundation an option to purchase 1,875,000 Shares
at $2.20 per Share, the market price at that time.
The option is exercisable in whole or in part from
the date of its grant until October 15, 2000.
Under applicable Internal Revenue Service rulings,
the stock option may not be exercised directly by
the Foundation. The Foundation may sell all or a
<PAGE>
Page 4 of 5 Pages
part of the option to other not-for-profit third
parties which may then in turn exercise the option
directly. The Trustee of the Foundation is
Raymond Zimmerman, and the members of the Trust
Committee (the "Committee") administering the
Foundation are Raymond Zimmerman, Harold
Roitenberg and Joel Gordon, who may be deemed to
control the disposition of the option by virtue of
their power to decide to whom to sell such
options. Each of the members of the Committee
disclaims beneficial ownership of the Shares
issuable upon exercises of the option, and Shares
subject to the option are not included in the
indicated number of Shares beneficially owned by
Raymond Zimmerman.
(3) Represents 1,045,696 Shares owned of record by
Raymond Zimmerman as trustee for five nieces and
456,967 Shares as to which Mr. Zimmerman is the
trustee under the Will of Mary K. Zimmerman.
(4) Represents 405,000 Shares owned of record by the
Raymond Zimmerman Family Foundation and 161,280
Shares owned of record by the Zimmerman
Foundation.
(5) Includes currently exercisable options to purchase
631,875 Shares.
Item 5. Ownership of Five Percent or Less of a Class:
Not applicable
Item 6. Ownership of More than Five Percent on Behalf of
Another Person:
Certain persons other than Raymond Zimmerman have the
right to receive and/or the power to direct the
receipt of dividends from, or the proceeds from the
sale of 2,080,695 Shares, but no such other person's
interest relates to more than 5% of the Shares
outstanding as of December 31, 1994.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by the
Parent Holding Company:
Not applicable
Item 8. Identification and Classification of Members of the
Group:
Not applicable
Item 9. Notice of Dissolution of Group:
Not applicable
Item 10. Certification:
Not applicable
<PAGE>
Page 5 of 5 Pages
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.
/s/ Raymond Zimmerman
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Raymond Zimmerman
Dated: February 13, 1995 Chairman of the Board and President,
Service Merchandise Company, Inc.
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(Printed Name and Title)
#343444
