SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
MAY 9, 2000
Date of report (Date of earliest event reported)
SUCCESSORIES, INC.
(Exact Name of Registrant as Specified in its Charter)
000-22834 36-3760230
(Commission File Number) (I.R.S. Employer Identification No.)
2520 DIEHL ROAD
AURORA, ILLINOIS 60504
(Address of Principal Executive Offices) (Zip Code)
(630) 820-7200
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
(a) On May 9, 2000, Successories, Inc. (the "Registrant") dismissed Arthur
Andersen LLP ("Arthur Andersen") as its independent accountants.
(b) Arthur Andersen reported on the Registrant's financial statements for
the fiscal years ended January 29, 2000 and January 30, 1999.
(c) The report of Arthur Andersen on the Registrant's financial statements
for the fiscal years ended January 29, 2000 and January 30, 1999, contained no
adverse opinion or disclaimer of opinion and was not qualified or modified as to
uncertainty, audit scope or accounting principles.
(d) The Registrant's Audit Committee recommended, and its Board of
Directors approved, effective as of May 9, 2000, the decision to change
independent accountants.
(e) In connection with its audits for the fiscal years ended January 29,
2000 and January 30, 1999, and through May 9, 2000: (1) there have been no
disagreements with Arthur Andersen on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure, which
disagreements if not resolved to the satisfaction of Arthur Andersen would have
caused it to make reference thereto in its reports on the financial statements
for such periods; and (2) there has been no matter that was the subject of a
reportable event (as defined in Regulation S-K, Item 304(a)(1)(v)).
(f) Effective as of May 11, 2000, the Registrant has engaged Crowe, Chizek
and Company LLP ("Crowe Chizek") as its new independent accountants to audit the
Registrant's financial statements. During the Registrant's two most recent
fiscal years ended January 29, 2000 and January 30, 1999, and through May 10,
2000, the Registrant has not consulted with Crowe Chizek regarding the
application of accounting principles to any transaction or the type of audit
opinion that might be rendered on the Registrant's financial statements or any
matter that was the subject of a disagreement or reportable event with the
former auditor (as defined in Regulation S-K Item 304(a)(1)(iv) and (v),
respectively).
(g) The Registrant has requested that Arthur Andersen furnish it with a
letter addressed to the Commission stating whether or not it agrees with the
above statements. A copy of such letter, dated May 13, 2000, is filed as Exhibit
16 to this Form 8-K.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS
Exhibit No. Description
- ---------- -----------
16 Letter from Arthur Andersen LLP.
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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.
SUCCESSORIES, INC.
(Registrant)
Date: May 16, 2000 By: /s/ Gary Rovansek
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Gary Rovansek
President, Chief Executive Officer
and Chief Operating Officer
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INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION PAGE
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16 Letter from Arthur Andersen LLP. 6
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EXHIBIT 16
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Office of the Chief Accountant
SECPS Letter File
Securities and Exchange Commission
Mail Stop 11-3
450 Fifth Street, N.W.
Washington, D.C. 20549
May 13, 2000
Dear Sir/Madam:
We have read Item 4 included in the Form 8-K dated May 9, 2000 of Successories,
Inc. to be filed with the Securities and Exchange Commission and are in
agreement with the statements contained therein.
Very truly yours,
/s/ ARTHUR ANDERSEN LLP
Arthur Andersen LLP
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