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) September 23, 1998
CAMPO ELECTRONICS, APPLIANCES AND COMPUTERS, INC.
(Exact name of registrant as specified in its charter)
Louisiana 0-21192 72-0721367
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
109 Northpark Blvd., Covington, Louisiana 70433
(Address of principal executive offices) (Zip Code)
(504) 867-5000
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report.)
<PAGE>
ITEM 5. OTHER EVENTS
On September 23, 1998, Campo Electronics, Appliances and Computers,
Inc. (the "Registrant"), filed the press release attached hereto as Exhibit
99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Exhibits.
99.1 Press release issued by the Registrant on September 23,
1998.
<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.
CAMPO ELECTRONICS, APPLIANCES AND COMPUTERS,
INC.
By: /S/ MICHAEL G. WARE
Michael G. Ware
Chief Financial Officer
Dated: October 6, 1998
C A M P O
ELECTRONICS, APPLIANCES AND COMPUTERS, INC.
N EW S R E L E A S E
SEPTEMBER 23, 1998
CONTACT: WILLIAM E. WULFERS
PRESIDENT & CEO
(504) 867-5000
FOR IMMEDIATE RELEASE
CAMPO ELECTRONICS, APPLIANCES AND COMPUTERS, INC. TO EXPLORE
STRATEGIC ALTERNATIVES
NEW ORLEANS, LOUISIANA - SEPTEMBER 23, 1998 - CAMPO ELECTRONICS,
APPLIANCES AND COMPUTERS, INC. (OTC BULLETIN BOARD - CMPOQ) announced
today that it has retained Grisanti, Galef & Goldress, Inc. as financial
advisor to explore potential strategic and reorganizational alternatives
for the Company, including a sale or merger of the Company or sale of
certain of its assets, among other possibilities. The Company said no
decision has been made to pursue particular alternatives, and that there
can be no assurance that any transaction would result from the
exploration process.
The Company, which filed a voluntary petition to reorganize under Chapter
11 of the U.S. Bankruptcy Code on June 4, 1997, said pressure from giant
retailers and retail price deflation in key product categories has made
financial stability difficult to maintain. The Company said its Board of
Directors decided to pursue this course of action due to Campo's
continued poor performance and a sustained decrease in cash flow over the
past fiscal year, making it unlikely that the Company will return to
profitability in the near future. Due to the Company's current financial
condition, it is unlikely that a plan of reorganization or the proceeds
of any sale of the Company or its assets will be sufficient to provide
any return to shareholders on their investment in the Company.
Grisanti, Galef & Goldress, Inc., headquartered in Atlanta, Georgia, is a
management consulting firm that specializes in crisis management,
turnarounds, and mergers and acquisitions.
Campo Electronics, Appliances and Computers, Inc., headquartered in the
New Orleans metropolitan area, is a specialty retailer of name brand
consumer electronics, major appliances, computers and home office
products with 20 stores in the southern United States.
109 NORTHPARK BLVD. - 5TH FLOOR COVINGTON, LOUISIANA 70433 504-867-5000
