<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
For the plan year ended December 31, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES AND EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission file number 33-88010
WICKES LUMBER COMPANY
RETIREMENT SAVINGS PLUS PLAN
(file title of plan)
WICKES LUMBER COMPANY
706 Deerpath Drive
Vernon Hills, Illinois 60061
(Name of issuer of the securities held pursuant to the plan and address of its
principal executive office)
<PAGE> 2
Wickes Lumber Company
Retirement Savings Plus Plan
Table of Contents
Page(s)
Report of Independent Accountants 1
Financial Statements:
Statement of Net Assets Available for Plan Benefits
as of December 31, 1995 2
Statement of Net Assets Available for Plan Benefits
as of December 31, 1994 3
Statement of Changes in Net Assets Available for Plan Benefits
for the year ended December 31, 1995 4
Notes to Financial Statements 5-12
Supplemental Schedules:
Item 27a - Schedule of Assets Held for Investment Purposes
as of December 31, 1995 13-14
Item 27d - Schedule of Reportable Transactions
for the year ended December 31, 1995 15
Note: Supplemental schedules required by the Employee Retirement
Income Security Act of 1974 that have not been included herein are
not applicable to the Plan.
<PAGE> 3
Report of Independent Accountants
To the Trustees
Wickes Lumber Company Retirement Savings Plus Plan
Vernon Hills, Illinois
We have audited the accompanying statements of net assets available for
benefits of the Wickes Lumber Company Retirement Savings Plus Plan (the
"Plan") as of December 31, 1995 and 1994, and the related statement of
changes in net assets available for benefits for the year ended December
31, 1995. These financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements, referred to above, present
fairly, in all material respects, the net assets available for benefits of
the Plan as of December 31, 1995 and 1994 and the changes in net assets
available for benefits for the year ended December 31, 1995 in conformity
with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental schedules of
Assets Held for Investment Purposes and Reportable Transactions are
presented for the purpose of additional analysis and are not a required
part of the basic financial statements, but are supplementary information
required by the Department of Labor's Rules and Regulations for Reporting
and Disclosure under the Employee Retirement Income Security Act of 1974.
The Fund information in the statement of net assets available for benefits
and the statement of changes in net assets available for benefits is
presented for the purpose of additional analysis rather than to present the
net assets available for plan benefits and changes in net assets available
for plan benefits of each fund. The supplemental schedules and Fund
Information have been subjected to the auditing procedures applied in the
audit of the basic financial statements and, in our opinion, are fairly
stated in all material respects in relations to the basic financial
statements taken as a whole.
Chicago, Illinois
June 17, 1996
1
<PAGE> 4
Wickes Lumber Company
Retirement Savings Plus Plan
<TABLE>
Statement of Net assets Available for Plan Benefits with Fund Information
December 31, 1995
<CAPTION>
Fixed Equity Equity Fidelity Company
Loan Rate Income Growth Balanced Stock
Fund Fund Fund Fund Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C>
Assets:
Receivables:
Employer contributions $ (4,408) $ 314 $ 398 $ 184 $ (649) $ (4,161)
Employee contributions 7,121 3,518 2,251 940 (1,160) 12,670
Interest 174,349 52 147 18 (4,335) 170,231
Interfund receivable (payable) (454,549) 148,719 276,565 4,684 24,581
---------- --------- -------- ------ ------- --------
Total Receivables (277,487) 152,603 279,361 5,826 18,437 178,740
Investments at fair value:
Interest-bearing cash 1,727,491 46,739 81,471 8,982 19,277 1,883,960
Registered investment entities 6,534,980 17,940,321 486,791 24,962,092
Company Stock 314,820 314,820
Participant loans $1,869,863 1,869,863
--------- --------- --------- ---------- -------- -------- ----------
1,869,863 1,727,491 6,581,719 18,021,792 495,773 334,097 29,030,735
Investments at contract value:
Investment contracts 28,977,147 28,977,147
Contracts with insurance companies 16,386,514 16,386,514
--------- ---------- --------- ---------- -------- -------- ----------
Total investments 1,869,863 47,091,152 6,581,719 18,021,792 495,773 334,097 74,394,396
--------- ---------- --------- ---------- -------- ------- ----------
Net assets available for plan benefits $1,869,863 $ 46,813,665 $ 6,734,322 $ 18,301,153 $ 501,599 $ 352,534 $74,573,136
========= ========== ========= ========== ======== ======= ==========
</TABLE>
[FN]
The accompanying notes are an integral part of the financial statements
2
<PAGE> 5
Wickes Lumber Company
Retirement Savings Plus Plan
<TABLE>
Statement of Net assets Available for Plan Benefits with Fund Information
December 31, 1994
<CAPTION>
Fixed Equity Equity Fidelity Company
Loan Rate Income Growth Balanced Stock
Fund Fund Fund Fund Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C>
Assets:
Receivables:
Employer contributions $ 324,552 $ 56,904 $ 109,432 $ 5,557 $ (2,792) $ 493,653
Employee contributions 11,573 (4,216) 3,687 1,751 12,795
Interest 117,049 81 143 19 13 117,305
Interfund receivable (payable) (35,171) (11,040) (34,452) 16,257 64,406
---------- --------- -------- ------ ------- --------
Total Receivables 418,003 41,729 78,810 23,584 61,627 623,753
Investments at fair value:
Interest-bearing cash 3,709,609 47,504 72,712 7,815 4,773 3,842,413
Bank Investment contract 3,224,633 3,224,633
Registered investment entities 4,689,912 11,634,918 232,991 16,557,821
Company Stock 180,503 180,503
Participant loans $1,844,879 1,844,879
--------- ---------- --------- ---------- ------- ------- ----------
1,844,879 6,934,242 4,737,416 11,707,630 240,806 185,276 25,650,249
Investments at contract value:
Investment contracts 22,105,995 22,105,995
Contracts with insurance companies 20,243,722 20,243,722
--------- ---------- --------- ---------- ------- ------- ----------
Total investments 1,844,879 49,283,959 4,737,416 11,707,630 240,806 185,276 67,999,966
--------- ---------- --------- ---------- ------ ------- ----------
Net assets available for plan benefits $1,844,879 $ 49,701,962 $ 4,779,145 $ 11,786,440 $ 264,390 $ 246,903 $68,623,719
========= ========== ========= ========== ======= ======= ==========
</TABLE>
[FN]
The accompanying notes are an integral part of the financial statements
3
<PAGE> 6
Wickes Lumber Company
Retirement Savings Plans
<TABLE>
Statement of Changes in Net Assets Available for Plan Benefits with Fund
Information for the year ended December 31, 1995
<CAPTION>
Fixed Equity Equity Fidelity Company
Loan Rate Income Growth Balanced Stock
Fund Fund Fund Fund Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C>
Additions:
Employer contributions (noncash $ 924,417 $ 225,290 $ 431,519 $ 45,521 $ 434,378 $ 2,061,125
$411,750)
Employee contributions 2,469,099 656,267 1,288,675 149,695 98,630 4,662,366
Rollovers 17,928 16,753 13,564 8,840 15,178 72,263
Interest income 3,375,016 1,865 3,738 594 1,609 3,382,822
Interest on participant loans 78,463 15,108 29,560 1,110 651 124,892
Net depreciation in the fair value
of investments (534,522) (534,522)
Net gain from registered investment
entities 1,537,291 4,379,262 50,912 5,967,465
--------- --------- --------- ------- --------- -----------
Total additions: 6,864,923 2,452,574 6,146,318 256,672 15,924 15,736,411
--------- --------- --------- ------- --------- -----------
Deductions:
Payments to participants $ 280,096 6,884,664 590,185 1,671,375 37,930 69,550 9,533,800
Administrative expenses 192,256 15,411 31,961 4,020 9,546 253,194
--------- --------- --------- --------- ------- --------- -----------
Total deductions 280,096 7,076,920 605,596 1,703,336 41,950 79,096 9,786,994
--------- --------- --------- --------- ------- --------- -----------
Loans to participants 1,049,253 (645,701) (115,556) (270,804) (10,077) (7,115)
Loan repayments (744,173) 476,547 80,827 176,747 6,278 3,774
Net transfers among funds (2,507,146) 142,928 2,165,788 26,286 172,144
--------- --------- --------- --------- ------- --------- -----------
Net increase in plan assets 24,984 (2,888,297) 1,955,177 6,514,713 237,209 105,631 5,949,417
Net assets available for plan
benefits, beginning of year 1,844,879 49,701,962 4,779,145 11,786,440 264,390 246,903 68,623,719
--------- --------- --------- ------- --------- --------- -----------
Net assets available for plan
benefits end of year $1,869,863 $46,813,665 $ 6,734,322 $18,301,153 $ 501,599 $ 352,534 $ 74,573,136
========== ========== ========= =========== ======= ======= ==========
</TABLE>
[FN]
The accompanying notes are an integral part of the financial statements.
4
<PAGE> 7
Wickes Lumber Company
Retirement Savings Plus Plan
Notes to Financial Statements
1. Description of the Plan
The following description of the Wickes Lumber Company Retirement
Savings Plus Plan (the "Plan") provides only general information.
Reference should be made to the plan document for a more complete
description of the Plan's provisions.
The Plan is designed to encourage and assist eligible employees of
Wickes Lumber Company (the "Company") to adopt a regular program of
savings to provide additional security for their retirement. There
were 3,243 and 3,427 employees participating in the Plan at December
31, 1995 and 1994, respectively.
2. Summary of Significant Accounting Policies
The financial statements of the Plan have been prepared using the
accrual basis of accounting and are in accordance with generally
accepted accounting principles.
The significant accounting policies followed by the Plan are summarized
as follows:
a. Valuation of Investments
Investments in securities and registered investment entities are
stated at fair value based on published market quotations in an
active market except for short-term securities and guaranteed group
annuity contracts, which are recorded at their contract value,
which represents contributions and reinvested income less withdrawals.
b. Investment Transactions and Investment Income
Investment transactions are accounted for on the dates purchases or
sales are executed. Dividends are recognized as income on the
ex-dividend date and interest is accrued as earned.
The Plan presents, in the statement of changes in net assets, the
net appreciation (depreciation) in fair value of its investments which
consists of the realized gains and losses and the unrealized
appreciation (depreciation) on those investments.
c. Allocation to Participants' Accounts
Investment income and realized and unrealized investment gains or
losses applicable to participants' investments are allocated based
on the ratio of the individual participant's equity in the fund to
total fund equity as of the respective valuation date.
5
<PAGE> 8
d. Expenses
Certain investment expenses are paid by the Plan. For the year
ended December 31, 1995 these expenses totaled $253,194. Prior
to January 1, 1995 most expenses relating to the administration of
the Plan were paid by the Company.
e. Use of Estimates
The preparation of financial statements in conformity with
generally accepted accounting principles requires management to
make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and
liabilities at the dates of the financial statement and the
reported amounts of revenues and expenses during the reporting
periods. Actual results could differ from those estimates.
3. Contributions
Under the terms of the Plan, subject to certain limitations, each
participant can contribute between 2% and 8% of eligible pay through
salary reduction on a before-tax basis and between 1% and 15% of pay
though a payroll deduction on an after-tax basis. The total before-tax
and after-tax contributions cannot exceed 15% of pay. Participants may
elect to change their contribution percentages on January 1, April 1,
July 1 or October 1 of any year. The contributions actually made by
participants and the Company may not cause the Plan to violate the
limitations on contributions to defined contribution plans as set forth
in Section 415 of the Internal Revenue Code of 1986 (the Code). The
Code also imposes, among other things, a dollar limitation on the
amount of before-tax contributions for a calendar year. For 1995, a
participant's before-tax contribution was limited to $9,240.
6
<PAGE> 9
The Plan provides that the Company contribute: (a) a matching amount
equal to 50% of the first 5% of compensation contributed by each
participant as before-tax contributions and any after-tax contributions
which are deemed to be before-tax contributions as defined in the Plan,
but the contribution cannot exceed 5% of the participant's pay; prior to
September 1, 1994 the matching amount was 25% of the first 5% of
compensation contributed on an actual or deemed before-tax basis; (b) a
"floor" contribution to eligible participants equal to 1% of their
compensation up to the social security wage base plus 2% of their
compensation over the social security wage base; effective September 1,
1994 the floor contribution was discontinued; and (c) a "Supplemental
Contribution" as defined in the Plan. In addition, the Company may make
an additional "Profit Sharing Bonus Contribution" in an amount, as
determined by the Board of Directors, up to 50% of the amount of matching
contributions. Effective September 1, 1994, the Company may make a
discretionary profit sharing bonus contribution in an amount determined
by the Board of Directors in the form of cash or company common stock.
4. Vesting and Forfeitures
The participants' before-tax and after-tax contribution accounts are
fully vested and nonforfeitable at all times. The participants'
company contribution account becomes 50% vested after two years of
credited service, 75% vested after three years of credited service and
100% vested after four years of credited service. The participants'
company contribution account also becomes fully vested upon (a)
attainment of age 65, (b) total and permanent disability, (c) death or
(d) termination of the Plan. An employee earns a year of credited
service for each year of employment with the employer or any other
member of the group.
Terminated participants forfeit any nonvested portions of the employer's
contributions at the date of termination. These forfeited amounts are
applied to reduce the employer matching contributions or used to
restore forfeited accounts. Total forfeitures approximated $43,000 and
$30,000 during 1995 and 1994, respectively.
7
<PAGE> 10
5. Distributions and Withdrawals
Distributions are made to a participant (or elected beneficiaries) in a
single distribution. Distributions must be made not later than the
60th day after the later of the close of the plan year in which:
a. The participant terminates his/her employment with all employers
(as defined in the Plan) and their affiliates and elects
distribution, or
b. The participant reaches age 65 after termination.
In all cases, payments of minimum distributions must be made by the
April 1 following the year in which the participant reaches 70 1/2 even
if he has not retired.
6. Withdrawals and Loans to Participants
Participants may make one withdrawal in any 12-month period from their
after-tax account including any related earnings. Funds from before-
tax savings accounts can only be withdrawn once in any six-month period
in the event of a severe financial hardship and only for the amount
needed to cover the financial emergency. Once in any 12-month period a
participant who has reached age 59 1/2 may withdraw all of any part of
his vested account.
Participants may obtain loans from their employee contribution account.
Participants can borrow up to 1/2 of the value of their employee
contribution account not to exceed $50,000 less the highest outstanding
loan balance from the previous twelve months. The minimum loan amount
is $1,000. The term of the loan can be up to five years unless the
loan is for the purchase of a principal residence, in which case the
term can be up to twenty years. Interest rates are based on the prime
interest rate set by a national commercial banking institution.
8
<PAGE> 11
7. Investment Elections
Participants have the option of investing their before-tax, after-tax
and matching contributions, in increments of 5% (prior to January 1,
1995 increments of 25%), in one or more of the funds listed below. A
brief description of each fund follows:
a. Fixed Rate Fund - This fund is invested primarily in money market
instruments, contracts with insurance companies (guaranteed
insurance contracts) and synthetic guaranteed investment contracts.
Interest earned is a blend of the rates.
b. Equity Income Fund - This fund is invested primarily in common
stocks that have historically produced dividends. Dividend
yield will vary depending on the securities held in the portfolio.
c. Equity Growth Fund - This fund is invested primarily in a
registered investment entity which invests in a variety of common
stocks. The stocks purchased by the fund are expected to
appreciate in value because of their high growth profile.
d. Fidelity Balanced Fund - This fund is invested primarily in common
and preferred stocks and bonds.
e. Company Stock Fund - This fund is invested in the common stock of
the Company.
None of the foregoing funds guarantees a return to the participant.
Dividend and interest income received on investments in each fund are
reinvested in the same fund.
Floor contributions, supplemental contributions and profit sharing
bonus contributions shall be invested in the fixed rate fund prior to
August 31, 1994. Effective September 1, 1994 employees have the
option to transfer investments of profit sharing, supplemental and
floor contributions that are not currently restricted by the Plan.
Any discretionary profit sharing bonus contribution in the form of
Company Common Stock shall be invested in the Company Common Stock
Fund and is restricted until the end of the Plan year in which it was
contributed.
9
<PAGE> 12
Prior to January 1, 1995, the Company Common Stock Fund
was not participant directed and consisted of the discretionary profit
sharing bonus contribution in the form of Company Common Stock.
Effective January 1, 1995 participants had the option of investing
their before-tax, after-tax and matching contributions into this fund
in increments of 5%. However, the discretionary profit sharing
contribution was restricted to this fund until December 31, 1995 when
the entire balance of this fund became participant directed. The
participant directed and nonparticipant directed net assets and
changes in net assets have been combined on these financial
statements.
A participant may elect to change his/her investment election and/or to
transfer, between funds, all or a part, in multiples of 5% (prior to
January 1, 1995 in multiples of 25%,) of his/her employee contribution
account and company contribution account on a monthly basis.
8. Federal Income Taxes
The Internal Revenue Service (IRS) has determined and informed the
Company by letter dated May 24, 1995, indicating that the Plan including
all amendments adopted on December 22, 1994 is qualified and the trust
established under the Plan is tax-exempt as designed in accordance with
the applicable sections of the Internal Revenue Code. The plan adminstrator
believes that the Plan is currently designed and being operated in
compliance with the applicable requirements of the Internal Revenue
Code. Further, the Plan administrator believes that the Plan was
qualified and the related trust was tax-exempt as of December 31, 1995.
9. Investments
The following investments represent 5% or more of the assets of the Plan at
December 31, 1995 and 1994:
<TABLE>
<S> <C> <C>
1995 1994
Short-term Liquid Reserve Fund $ 3,842,373
Hartford Life Insurance Co., GA 5197 5,313,616
Fidelity Equity Income Fund $ 6,534,980 4,689,912
Fidelity Magellan Fund 17,940,321 11,634,918
Banker's Trust Managed Synthetic
Guaranteed Investment Contract 12,265,056
</TABLE>
10
<PAGE> 13
10. Benefit Claims Payable and Difference in Value of Certain Investment
Contracts
Amounts allocated to accounts of persons who have withdrawn from
participation in the earnings and operations of the Plan but have not
yet been disbursed as of the last day of the plan year and the difference
between contract value and fair value for fully benefit responsive
investment contracts held by banks, which are stated at fair value in the
Form 5500, since they do not qualify for contract value reporting in the
Form 5500, are stated at contract value in the financial statements, are as
follows:
<TABLE>
<S> <C> <C>
1995 1994
Statements of net assets
available for plan benefits:
Net assets per Form 5500 $ 74,111,198 $ 68,132,357
Plus: Benefit claims payable 961,134 491,362
Less: Difference between Fair Value and
Contract Value of certain investment contracts 499,196
---------- ----------
Net assets per Statement of Net Assets
Available for Plan Benefits $ 74,573,136 $ 68,623,719
============ ============
Statements of changes net assets
available for plan benefits:
Net increase as reported on Form 5500 $ 5,978,841
Less: Distributions payable to terminated
employees - beginning of year 491,362
Add: Distributions payable to terminated
employees - end of year 961,134
Less: Difference between Fair Value and Contract
Value of certain investment contracts 499,196
---------
Net increase as reported in
financial statements $ 5,949,417
===========
</TABLE>
11. Termination of the Plan
Although it has not expressed any intent to do so, the Company
reserves the right to terminate the Plan at any time for any reason,
subject to the provisions of ERISA. Upon termination of the Plan, all
participants will become fully vested in their accounts and entitled to
a distribution.
11
<PAGE> 14
12. Concentration of Credit Risk
Certain investments in financial instruments potentially subject the
Plan to concentrations of credit risk. The financial instruments
consist of investment contracts with insurance companies and other
financial institutions, interest bearing cash, shares of registered
investment companies, and shares of common stock. The Company does not
anticipate any adverse effect of its financial position resulting from its
investment in these instruments. No collateral or other security is
required by the Trustee to collateralize these financial instruments.
13. Investment and Insurance Contracts
The fair value of the insurance and investment contracts (including accrued
interest) at December 31, 1995 was $46,715,000. The average yield of assets
on December 31, 1995 was 6.88% and the return on assets (crediting interest
rate) for the year ended December 31, 1995 was 7.02%. There are no reserves
against contract values for credit risk of contract issuers or otherwise.
Comparable duration Wall Street Journal GIC Index rates were used as the
discount factor within the discounted cash flow formula to arrive at the
above aggregate fair value. A standard present value calculation has been
employed to arrive at a current value for each cash flow within a contract.
The sum of the present values for each contract's cash flows is the
estimated total fair value for that contract. All of the contract fair
values are then added together to arrive at the above aggregate fair value
for the insurance and investment contracts.
The Fixed Rate Fund contains an indexed managed synthetic GIC. This is
a portfolio of securities owned by the Fund with a benefit-responsive,
book-value "wrap" contract associated with the portfolio. The wrap
contract amortizes market value gains and losses over the duration of
the portfolio assuring that book-value, benefit-responsive payments can
be made for participant withdrawals. The crediting rate on the managed
synthetic resets periodically and will have an interest rate of no less
than 0%.
In the absence of an actively traded market, discounted cash flows are
only an estimate of the contract's economic value. These values are not
a useful value for participant statement purposes nor are they
representative of the value which may be received from these contracts
in either a participant disbursement or an early termination of the
contract.
Certain employer initiated events (e.g., layoffs, bankruptcy, store
closings, plan termination, mergers, early retirement incentives) are
not eligible for book value disbursements even from fully benefit
responsive contracts. These events may cause liquidation of all or a
portion of a contract at a market value adjustment.
12
<PAGE> 15
SUPPLEMENTAL SCHEDULES
<PAGE> 16
Wickes Lumber Company
Retirement Savings Plus Plan
Item 27a - Schedule of Assets Held for Investment Purposes
December 31, 1995
<TABLE>
<CAPTION>
(e)
Current/
(a) (b) (c) (d) Contract
Identity of Issue Description of Investment Cost Value
<S> <S> <C> <C>
Fixed Rate Fund:
Short Term Fund:
Liquid Reserve Fund-Commingled
Employee Benefit Trust Money Market, 5.91% $ 1,727,491 $ 1,727,491
Insurance Policies:
Hartford Life Insurance Co. Guaranteed Annuity Contract,
Contract #GA 5197 9.27% due 8/12/96 1,795,185 2,903,094
Metropolitan Life Insurance Co. Guaranteed Annuity Contract,
Contract 18565B 6.60% 1,682,435 1,682,435
Metropolitan Life Insurance Co. Guaranteed Annuity Contract,
Contract 18572B 7.25% 2,181,051 2,181,051
Provident National Assurance Co. Guaranteed Annuity Contract,
GIC #027-05082 7.83%, due 3/15/96 1,388,047 1,388,047
Travelers Insurance Co. Guaranteed Annuity Contract,
Contract #GR15836 8.65 due 5/1/96 2,000,000 2,940,353
Peoples Security Guaranteed Annuity Contract,
Contract #BDA 00447 7.44%, due 9/15/99 3,291,534 3,291,534
New York Life Insurance Co. Guaranteed Annuity Contract,
Contract #30256 7.22%, due 9/15/2000 2,000,000 2,000,000
Investment contracts:
Banker's Trust Managed Benefit Managed Synthetic Guaranteed
Securities Investment Contract Investment Contract, Various
Indexed Bond Funds 12,265,056 12,265,056
Banker's Trust Benefit Accessible
Securities Investment Contract Buy/hold synthetic,
#95-814, FLMTZ 94-L Guaranteed Investment Contract 2,987,813 2,990,683
Banker's Trust Benefit Accessible
Securities Investment Contract Buy/hold synthetic
#95-838, FHLMC, 1712 PE Guaranteed Investment Contract 1,975,911 1,977,564
Transamerica Life Insurance and Annuity
Company Contract #78511 Buy/hold synthetic
FHLMC 1661 PE Guaranteed Investment Contract 1,878,125 1,906,639
Transamerica Life Insurance and Annuity
Company Contract #76514 Buy/hold synthetic
FHLMC 1704 PE Guaranteed Investment Contract 2,854,219 2,884,895
Transamerica Life Insurance and Annuity
Company Contract #76508 Buy/hold synthetic
FNMA 1994 34PD Guaranteed Investment Contract 1,945,000 1,961,883
Provident Life and Accident Insurance
Company Contract #630-05587 Buy/hold synthetic
FHLMC 1602 CL-PD Guaranteed Investment Contract 2,501,172 2,497,088
Provident Life and Accident Insurance
Company Contract #630-05642 Buy/hold synthetic
FNMA 1994-010 Guaranteed Investment Contract 2,497,266 2,493,339
---------- ----------
Total Fixed Rate Fund 44,970,304 47,091,152
---------- ----------
13
<PAGE> 17
Equity Income Fund:
Short-Term Fund:
Liquid Reserve Fund - Commingled
Employee Benefit Trust Money Market, 4.83% $ 46,739 $ 46,739
Mutual Fund:
Fidelity Equity Income Fund Registered Investment Entity 5,441,567 6,534,980
---------- ----------
Total Equity Income Fund 5,488,315 6,581,719
---------- ----------
Equity Growth Fund:
Short-Term Fund:
Liquid Reserve Fund - Commingled
Employee Benefit Trust Money Market, 5.91% $ 81,471 $ 81,471
Mutual Funds;
Fidelity Magellan Fund Registered Investment Entity 14,067,703 17,940,321
---------- ----------
Total Equity Growth Fund 14,149,174 18,021,792
---------- ----------
Fidelity Balanced Fund:
Short-Term Fund:
Liquid Reserve Fund - Commingled
Employee Benefit Trust Money Market, 5.91% 8,982 8,982
Mutual Funds:
Fidelity Balanced Fund Registered Investment Entity 460,880 486,791
---------- ----------
Total Fidelity Balanced Fund 469,862 495,773
---------- ----------
Company Stock Fund:
Short-Term Fund:
Liquid Reserve Fund - Commingled
Employee Benefit Trust Money Market, 5.91% 19,277 19,277
Retail Sales:
Wickes Lumber Co. Company Stock, 62,964 shares 518,573 314,820
---------- ----------
Total Company Stock Fund 537,850 334,097
---------- ----------
Loan Fund:
Participant Loans Participant Loans, 6%-11% 1,869,863
----------
Total Loan Fund 1,869,863
---------- ----------
Total Investments $ 65,615,505 $ 74,394,396
========== ==========
</TABLE>
14
<PAGE> 18
Wickes Lumber Company
Retirement Savings Plus Plan
Item 27d - Schedule of Reportable Transactions
December 31, 1995
Individual Transactions
<TABLE>
<CAPTION>
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Description of Purchase Selling Lease Expense Cost of Current Net
Asset Price Price Rental Incurred Asset Value Gain
<S> <C> <C> <C> <C> <C> <C> <C>
Liquid Reserve Fund
Commingled
Employee Benefit
Trust $ 10,277,004 $ 10,277,004 $ 10,277,004
$ 10,825,165 10,825,165 10,825,165
Banker's Trust
Managed Benefit
Accessible Securities
Investment Contract 10,825,165 10,825,165 10,825,165
</TABLE>
Series of Transactions
<TABLE>
<CAPTION>
Number Number
of of Net Gain
Identity of Issue Description of Asset Purchases Sales Purchases Sales or (Loss)
<S> <S> <C> <C> <C> <C> <C>
Fixed Rate Fund:
Liquid Reserve Fund Commingled Employee Benefit Trust 98 $26,549,928
Liquid Reserve Fund Commingled Employee Benefit Trust 48 $28,532,045
Banker's Trust Managed Synthetic Guaranteed 8 12,265,056
Investment Contract Investment Contract. Various
Indexed Bond Funds
Equity Income Fund:
Liquid Reserve Fund Commingled Employee Benefit Trust 81 1,469,033
Liquid Reserve Fund Commingled Employee Benefit Trust 53 1,469,797
Equity Growth Fund:
Liquid Reserve Fund Commingled Employee Benefit Trust 87 4,242,742
Liquid Reserve Fund Commingled Employee Benefit Trust 53 4,233,983
Fidelity Magellan Fund Registered Investment Entity 21 4,610,511
Fidelity Magellan Fund Registered Investment Entity 14 1,676,246 $346,327
Fidelity Balanced Fund
Liquid Reserve Fund Commingled Employee Benefit Trust 77 270,238
Liquid Reserve Fund Commingled Employee Benefit Trust 53 269,071
Company Stock Fund
Liquid Reserve Fund Commingled Employee Benefit Trust 80 477,202
Liquid Reserve Fund Commingled Employee Benefit Trust 50 462,698
</TABLE>
15
<PAGE> 19
REQUIRED INFORMATION
The Wickes Lumber Company Retirement Savings Plus Plan is subject to ERISA
and elects to file Plan financial statements and schedules prepared in
accordance with the financial reporting requirements of ERISA as permitted
by Paragraph 4.
ADDITIONAL EXHIBIT
Exhibit
-------
B Consent of Coopers and Lybrand, LLP
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Plan's Administrative Committee has duly caused this annual report to
be signed by the undersigned hereunto duly authorized.
WICKES LUMBER COMPANY
RETIREMENT SAVING PLUS PLAN
---------------------------
(Name of Plan)
Date: June 27, 1996
By : / s / George A. Bajalia
----------------------------
George A. Bajalia
Co-Administrator of the Plan
By : / s / Trevor Dignall
----------------------------
Trevor Dignall
Co-Administrator of the Plan
By : / s / George Finkenstaedt
---------------------------
George Finkenstaedt
Co-Administrator of the Plan
<PAGE> 20
EXHIBIT B
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the previously filed
Registration Statement on Form S-8 (No. 33-88010) of the Wickes Lumber Company
of our report dated June 17, 1996 appearing on page 1 of this Annual Report on
Form 11-K of the Wickes Lumber Company Retirement Savings Plus Plan for the year
ended December 31, 1995.
Cooper & Lybrand L.L.P.
Chicago, Illinois
June 28, 1996
