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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
SEC File Number
1-9223
CUSIP Number
817587108
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[x] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: March 31, 1996
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
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Nothing in this form shall be construed to imply that the Commission
has verified any information contained herein.
If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
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PART I. Registrant Information
Full Name of Registrant: Service Merchandise Company, Inc.
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Former Name if Applicable:
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7100 Service Merchandise Drive
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Address of Principal Executive Office (Street and Number)
Brentwood, TN 37027
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City, State and Zip Code
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PART II. Rules 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate)
[ x ] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without reasonable effort or expense;
[ x ] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof
will be filed on or before the fifteenth calendar day following the
prescribed due date; or the subject quarterly report or transition
report on Form 10-Q, or portion thereof will be filed on or before
the fifth calendar day following the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III. Narrative
State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.
The Form 10-Q cannot be timely filed because the registrant is unable,
without unreasonable effort or expense, to finalize the accounting entries
necessary to comply with Statement of Financial Accounting Standards No. 121
("SFAS 121") which is being applied for the first time to the financial
reporting period to be included in the subject Form 10-Q.
PART IV. Other Information
(1) Name and telephone number of person to contact in regard to this
notification
S. Cusano (615) 660-3200
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
[ x ] Yes [ ] No
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(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
[ x ] Yes [ ] No
The results of operations for the financial period to be included in the
subject Form 10-Q may reflect a significant change from the corresponding period
for the last fiscal year due to the impact of implementing SFAS 121. No
reasonable estimate of the anticipated change can be made due to the additional
analyses required by the registrant to finalize the entries necessary to comply
with SFAS 121.
Service Merchandise Company, Inc. has caused this notification to be signed
on its behalf by the undersigned thereunto duly authorized.
Service Merchandise Company, Inc.
Date: May 16, 1996 /s/ S. Cusano
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S. Cusano
Vice President and Chief Financial Officer
