<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No. 1
Friedman's Inc.
---------------------------------------------------------
(Name of Issuer)
Class A Common Stock, $.01 par value
---------------------------------------------------------
(Title of Class of Securities)
358438109
-------------------------------------
(CUSIP Number)
Page 1 of 6 Pages
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- --------------------
CUSIP NO.
358438109
- --------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
- -------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a)
----
(b)
----
- -------------------------------------------------------------------------------
3. SEC Use Only
- -------------------------------------------------------------------------------
4. Citizenship or place of Organization
New York
- -------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares
Beneficially 0
Owned By -----------------------------------------
Each 6. Shared Voting Power
Reporting
Person With 1,325,459
-----------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------
8. Shared Dispositive Power
1,325,459
-----------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,325,459
- -------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
- -------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
10.1%
- -------------------------------------------------------------------------------
12. Type of Reporting Person
BD-PN-IA
- -------------------------------------------------------------------------------
Page 2 of 6 Pages
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- --------------------
CUSIP NO.
358438109
- --------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, L.P.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a)
----
(b)
----
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares
Beneficially 0
Owned By -----------------------------------------
Each 6. Shared Voting Power
Reporting
Person With 1,325,459
-----------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------
8. Shared Dispositive Power
1,325,459
-----------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,325,459
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
10.1%
- -------------------------------------------------------------------------------
12. Type of Reporting Person
HC-PN
- -------------------------------------------------------------------------------
Page 3 of 6 Pages
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- --------------------
CUSIP NO.
358438109
- --------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman Sachs Trust on behalf of
Goldman Sachs Small Cap Value Fund
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a)
----
(b)
----
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares
Beneficially 0
Owned By -----------------------------------------
Each 6. Shared Voting Power
Reporting
Person With 941,100
-----------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------
8. Shared Dispositive Power
941,100
-----------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
941,100
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
7.2%
- --------------------------------------------------------------------------------
12. Type of Reporting Person
IC
- --------------------------------------------------------------------------------
Page 4 of 6 Pages
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Item 4. Ownership.*
(a). Amount beneficially owned:
See the response(s) to Item 9 on the attached cover page(s).
(b). Percent of Class:
See the response(s) to Item 11 on the attached cover page(s).
(c). Number of shares as to which such person has:
(i). Sole power to vote or to direct the vote: See the
response(s) to Item 5 on the attached cover
page(s).
(ii). Shared power to vote or to direct the vote: See the
response(s) to Item 6 on the attached cover
page(s).
(iii). Sole power to dispose or to direct the disposition of:
See the response(s) to Item 7 on the attached
cover page(s).
(iv). Shared power to dispose or to direct the disposition
of: See the response(s) to Item 8 on the
attached cover page(s).
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
See Exhibit (99.2) as previously reported.
Item 10. Certification.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to
above were acquired in the ordinary course of
business and were not acquired for the purpose of
and do not have the effect of changing or
influencing the control of the issuer of such
securities and were not acquired in connection with
or as a participant in any transaction having such
purpose or effect.
- -----------------------
* The Goldman Sachs Group, L.P. ("GS Group") and Goldman, Sachs & Co.
("Goldman Sachs") each disclaim beneficial ownership of the Class A Common Stock
beneficially owned by (i) managed accounts and (ii) certain investment limited
partnerships, of which a subsidiary of GS Group or Goldman Sachs is the general
partner or managing general partner, to the extent partnership interests in such
partnerships are held by persons other than GS Group, Goldman Sachs or their
affiliates.
Page 5 of 6 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: February 10, 1998
THE GOLDMAN SACHS GROUP, L.P.
By: /s/ Hans L. Reich
-----------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN, SACHS & CO.
By: /s/ Hans L. Reich
-----------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS TRUST
on behalf of Goldman Sachs Small Cap
Value Fund
By: /s/ Hans L. Reich
-----------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
Page 6 of 6 Pages
