SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Numbers 1-12046
1-5787
NOTIFICATION OF LATE FILING
(Check One): [ X] Form 10-K [ ] Form 11-K [ ] Form 20-F
[ ] Form 10-Q [ ] Form N-SAR
For Period Ended: March 31, 1997
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended: Not Applicable
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:
Not Applicable-------------------------------------------------------
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PART I. REGISTRANT INFORMATION
Full name of registrants: Levitz Furniture Incorporated; Levitz
Furniture Corporation--------------------
Former name if applicable:
Address of principal executive office (Street and Number): 6111
Broken Sound Parkway, N.W.-----------------------------------------
City, State and Zip Code: Boca Raton, Florida 33487-2799-----------
PART II. RULE 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 appropriate box.)
[ X] (a) The reasons described in reasonable detail in Part III
of this form could not be eliminated without unreasonable
effort or expense;
[ X] (b) The subject annual report, semi-annual report,
transition report on Form 10-K, 20-F, 11-K or Form N-SAR,
or portion thereof will be filed on or before the 15th
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,
11-K, 20-F, 10-Q, N-SAR or the transition report portion thereof
could not be filed within the prescribed time period. (Attach
extra sheets if needed.)
As previously disclosed, Levitz Furniture Corporation
("Levitz"), a wholly-owned subsidiary of Levitz Furniture
Incorporated (the "Company"), and General Electric Capital
Corporation ("GECC") are parties to an Account Purchase Agreement
(the "Agreement"), whereby GECC has agreed to purchase Levitz's
customer credit obligations without recourse. The Company and
Levitz are currently renegotiating the terms of the Agreement
with GECC, and believe that the Agreement will be amended in the
near future as a result of these negotiations. There can be no
assurance, however, with respect to the timing or outcome of
these negotiations. Such negotiations cannot be concluded in
time for the Company and Levitz to file their Annual Reports on
Form 10-K on a timely basis. The outcome of these negotiations
may significantly impact the disclosures required by Form 10-K.
For the reasons set forth above, the Company's and
Levitz's inability to timely file their Annual Reports on Form
10-K for their fiscal years ended March 31, 1997 could not be
eliminated without unreasonable effort or expense. The Company
and Levitz intend to file their Annual Reports no later than the
fifteenth day after the due date of the Annual Report.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in
regard to this notification
Patrick J. Nolan
Vice President and Chief Financial Officer
of Levitz Furniture Incorporated and
Senior Vice President-Finance of
Levitz Furniture Corporation (561) 994-6006
(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
(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?
[ ] Yes [ X ] No
If so: attach an explanation of the anticipated change,
both narratively and quantitatively, and, if appropriate, state
the reasons why a reasonable estimate of the results cannot be
made.
Levitz Furniture Incorporated
Levitz Furniture Corporation
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(Name of registrants as specified in charter)
Has caused this notification to be signed on their behalf by the
undersigned thereunto duly authorized.
Date: June 27, 1997 By /s/ Patrick J. Nolan
__________________________________
Patrick J. Nolan
Vice President and Chief
Financial Officer
of Levitz Furniture Incorporated and
Senior Vice President-Finance of
Levitz Furniture Corporation
