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) October 19, 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.)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
(a) Effective October 19, 1998, PricewaterhouseCoopers LLP ("PwC")
resigned as principal accountants of Campo Electronics, Appliances and
Computers, Inc. (the "Registrant") due to Campo's pursuit of strategic
alternatives including the sale of the Company.
(b) PwC's reports on the Registrant's consolidated financial
statements for the two fiscal years ended August 31, 1996 and 1997,
respectively, did not contain an adverse opinion or disclaimer of opinion,
nor were such reports qualified or modified as to uncertainty, audit
scope, or accounting principle except that PwC's report on the Registrant's
consolidated financial statements for the fiscal year ended August 31,
1997 included an explanatory paragraph regarding the Registrant's ability
to continue as a going concern.
(c) During the Registrant's two fiscal years ended August 31, 1997
and the subsequent interim period preceding the decision of PwC to
resign as independent accountants, there were no disagreements with PwC
on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreement(s), if not
resolved to the satisfaction of PwC, would have caused it to make a
reference to the subject matter of the disagreement(s) in connection with
its reports covering such periods.
(d) The Registrant has requested that PwC furnish it with a
letter addressed to the Securities and Exchange Commission stating whether
or not it agrees with the above statements. A copy of the letter from
PwC dated October 23, 1998 is filed as Exhibit 16 to this Form 8-K.
ITEM 5. OTHER EVENTS
October 21, 1998, the Registrant filed the press release attached
hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Exhibits.
16 Letter from PricewaterhouseCoopers LLP pursuant to Item
304(a)(3) Regulation S-K.
99 Press release issued by the Registrant on October 21, 1998.
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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.
CAMPO ELECTRONICS, APPLIANCES AND COMPUTERS,
INC.
By: /S/ DAVID GREGO
David Grego
Chief Financial Officer
Dated: October 23, 1998
EXHIBIT 16
October 23, 1998
Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C. 20549
Commissioners:
We have read the statements made by Campo Electronics, Appliances and
Computers, Inc. (copy attached) which we understand will be filed with the
Commission, pursuant to Item 4 of Form 8-K, as part of the Company's Form
8-K report for the month of October 1998. We agree with the statements
concerning our Firm in such Form 8-K.
Very truly yours,
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
EXHIBIT 99
NEWS RELEASE
OCTOBER 21, 1998 CONTACT: MALCOLM BALLINGER
PRESIDENT & CEO
(504) 867-5000
FOR IMMEDIATE RELEASE
CAMPO ELECTRONICS, APPLIANCES AND COMPUTERS, INC.
CLOSES STORES; NAMES NEW CFO
NEW ORLEANS, LOUISIANA - OCTOBER 21, 1998 - CAMPO ELECTRONICS, APPLIANCES
AND COMPUTERS, INC. (OTC BULLETIN BOARD-CMPOQ) announced today that it
has closed its retail store locations in anticipation of a sale of the
assets of the Company expected to be approved by the U.S. Bankruptcy
Court on Monday, October 26, 1998.
The Company also announced that Michael G. Ware has resigned as Chief
Financial Officer, and the Board has named David R. Grego, formerly the
Controller of the Company as Chief Financial Officer. The Board
expresses its appreciation to Mr. Ware for his service to the Company.
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.
