MISTER JAY FASHIONS INTERNATIONAL INC
8-K, 1997-03-31
HOBBY, TOY & GAME SHOPS
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                       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):
                                 March 25, 1997


                          UNITED TEXTILES & TOYS, INC.
             (Exact name of registrant as specified in its charter)


Delaware            O-21178                  13-3626613
State of            Commission File          IRS Employer
Incorporation       Number.                  Identification No.


                              448 West 16th Street
                            New York, New York 10011
                     Address of principal executive offices

        Registrant's telephone number, including area code (212) 391-2272


                     MISTER JAY FASHIONS INTERNATIONAL, INC.
          (Former name or former address, if changed since last report)




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Item 5.           Other Events.

         On March 3, 1997, the Company held its annual meeting, at which time it
proposed to (i) elect four Directors to the Corporation's  Board of Directors to
hold office for a period of one year or until their  successors are duly elected
and  qualified  (ii)  to  vote  on  the  proposal  to  amend  the  Corporation's
certificate of incorporation to effect a change of the  Corporation's  name from
Mister Jay Fashions  International,  Inc. to United Textiles & Toys  Corporation
(iii) To vote on the proposal to  reverse-spilt  the  Corporation's  outstanding
shares on a 1 for 10 basis.  All proposals were adopted by the  shareholders and
an amendment to the Company's  Certificate of Incorporation filed with the State
of Delaware on March 25, 1997. The reverse split was effected on March 27, 1997.
In addition, the Company's Nasdaq trading symbol waqs changed to "UTTC".



<PAGE>


                                   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 the 27th day of March 1997.



                                         MISTER JAY FASHIONS INTERNATIONAL, INC.


                                           By: /s/Ilan Arbel
                                                  Ilan Arbel, President



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