MCNAUGHTON APPAREL GROUP INC
SC 13G/A, 1999-02-11
WOMEN'S, MISSES', AND JUNIORS OUTERWEAR
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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


                                 SCHEDULE 13G


                   Under the Securities Exchange Act of 1934

                             (Amendment  No.   2   )*
                                            -------

                         McNaughton Apparel Group Inc.
- --------------------------------------------------------------------------------
                               (Name of Issuer)

                         Common Stock ($.01 par value)
- --------------------------------------------------------------------------------
                        (Title of Class of Securities)

                                  582524 10 4
                           ---------------------------
                                (CUSIP Number)

                         Annual Reporting Requirement
- --------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[_]  Rule 13d-1(b)
[x]  Rule 13d-1(c)
[_]  Rule 13d-1(d)

 
- --------------------

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


Sec 1745 (3-98)
<PAGE>
 
- ---------------------------                      -------------------------------
    CUSIP No. 582524 10 4          13G                  Page 2 of 4 Pages
- ---------------------------                      -------------------------------

- --------------------------------------------------------------------------------
 1.  NAMES OF REPORTING PERSONS I.R.S.
     IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Jay Greenberg
- --------------------------------------------------------------------------------
 2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_]

       Not applicable                                                    (b) [_]
- --------------------------------------------------------------------------------
 3.  SEC USE ONLY

- --------------------------------------------------------------------------------
 4.  CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
- --------------------------------------------------------------------------------
     NUMBER OF        5.  SOLE VOTING POWER
      SHARES                 561,717
   BENEFICIALLY                                                                 
     OWNED BY                                                                   
      EACH                                                                      
    REPORTING                                                                   
      PERSON                                                                    
       WITH                                                                     
- --------------------------------------------------------------------------------
                      6.  SHARED VOTING POWER                                   
                             0                                                  
- --------------------------------------------------------------------------------
                      7.  SOLE DISPOSITIVE POWER                               
                             561,717                                           
- --------------------------------------------------------------------------------
                      8.  SHARED DISPOSITIVE POWER                             
                             0                                                  
- --------------------------------------------------------------------------------
 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
        561,717
- --------------------------------------------------------------------------------
 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
     (SEE INSTRUCTIONS)

- --------------------------------------------------------------------------------
 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
        7.56%
- --------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON  (SEE INSTRUCTIONS)
        IN
- --------------------------------------------------------------------------------

                                       2
<PAGE>
 
Item 1(a).    Name of Issuer
              --------------

                The name of the issuer is McNaughton Apparel Group Inc. 
(the "Company").
                
Item 1(b).    Address of Issuer's Principal Executive Offices
              -----------------------------------------------
                The principal executive offices of the Company are located at
463 Seventh Avenue, New York, New York 10018.


Item 2(a).    Names of Person Filing
              ----------------------

                This statement is being filed by Jay Greenberg.

Item 2(b).    Address of Principal Business Office or, if none, Residence
              -----------------------------------------------------------

                The address of the principal business office of the reporting
person is 300 S.E. 5th Avenue, Apt. 7070, Boca Raton, Florida 33432.

Item 2(c).    Citizenship
              -----------

                Jay Greenberg is a citizen of the United States.

Item 2(d).    Title of Class of Securities
              ----------------------------

                The securities to which this statement relates are shares of the
common stock, $.01 par value (the "Common Stock"), of the Company.

Item 2(e).    CUSIP Number
              ------------

                The CUSIP number of the Common Stock is 582524 10 4.

Item 3.       If this statement is filed pursuant to (S)(S) 240.13d-1(b) or
              -------------------------------------------------------------
              240.13d-2(b) or (c), check whether the person filing is a:
              --------------------------------------------------------- 

                Not applicable.

Item 4.       Ownership
              ---------

                (a) As of February 1, 1999 Jay Greenberg beneficially owned,
              for purposes of Rule 13d-3 under the Act, 561,717 shares of Common
              Stock.

                (b) The shares owned beneficially by Jay Greenberg represent
              approximately 7.56% of the issued and outstanding Common Stock as
              of February 1, 1999.

                (c)  As of February 1, 1999, Jay Greenberg has the sole
              power to vote or to direct the voting of his shares and has the
              sole power to dispose of or to direct the disposition of his
              shares.

Item 5.       Ownership of Five Percent or Less of a Class
              --------------------------------------------

                Not applicable.

                                       3
<PAGE>
 
Item 6.       Ownership of More than Five Percent on Behalf of Another Person
              ---------------------------------------------------------------

                Not applicable.

Item 7.       Identification and Classification of the Subsidiary Which Acquired
              ------------------------------------------------------------------
              the Security Being Reported on by the Parent Holding Company
              ------------------------------------------------------------

                Not applicable.

Item 8.       Identification and Classification of Members of the Group
              ---------------------------------------------------------

                Not applicable.

Item 9.       Notice of Dissolution of Group
              ------------------------------

                Not applicable.

Item 10.      Certification
              -------------

                By signing below I certify that, to the best of my knowledge and
              belief, the securities referred to above were not acquired and are
              not held for the purpose of or with the effect of changing or
              influencing the control of the issuer of the securities and were
              not acquired and are not held in connection with or as a
              participant in any transaction having that purpose or effect.

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.


February 10, 1999

                                            /s/ Jay Greenberg
                                            ---------------------
                                                Jay Greenberg

                                       4


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