SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 14, 1997
WELCOME HOME, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-24912 56-1379322
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.
309 Raleigh Street, Wilmington, NC 28412
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 910-791-4312
Former Name or former address, if changes since last report: NONE
No. of Sequentially Numbered Pages: 6
Exhibit Index on Page 4
<PAGE>
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
On January 21, 1997, Welcome Home, Inc., filed a petition in the United
States Bankruptcy Court for the Southern District of New York, Case NO. 97B
40370(CB), assigned to Judge Cornelius Blackshear, seeking reorganization under
Chapter 11 of the Federal Bankruptcy Code (the "Bankruptcy Code"). Welcome
Home, Inc., is a debtor-in-possession pursuant to the provisions of section 1107
and 1108 of the Bankruptcy Code.
Copies of the press release issued by Welcome Home, Inc., on January 21,
1997, reporting the chapter 11 filing and related matters are filed as Exhibits
hereto.
ITEM 5. OTHER EVENTS
The Company announced that The Nasdaq Stock Market, Inc., notified The
Company, that effective on January 14, 1997, its' securities would be deleted
from The Nasdaq Stock Market.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
Exhibit A. Text of Press Release dated January 21, 1997.
Exhibit B. Text of letter dated January 22, 1997, re: Welcome Home,
Inc., securities de-listing from The Nasdaq Stock Market.
(This portion of the page intentionally left blank.)
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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.
WELCOME HOME, INC.
a Delaware corporation
Date: January 31, 1997 By: /s/ Thomas H. Hicks
Thomas H. Hicks
Executive Vice President
Chief Operating Officer
3
<PAGE>
EXHIBIT INDEX
Sequentially
Exhibit Number Description Numbered Page
- -------------- ----------- -------------
A Press Release dated January 21, 1997, 5
re: Welcome Home, Inc., filing Chapter
11 petition in US Bankruptcy Court.
B Letter dated January 22, 1997, re: 6
Welcome Home, Inc., de-listing of its'
securities from The Nasdaq Stock Market
4
<PAGE>
PRESS RELEASE
FOR FURTHER INFORMATION CONTACT:
THOMAS HICKS
WELCOME HOME, INC.
309-D Raleigh Street
Wilmington, NC 28412
(910) 791-4312, Extension 190
FOR IMMEDIATE RELEASE
WILMINGTON, NORTH CAROLINA, January 21, 1997 - Welcome Home, Inc. announced
today that it filed a voluntary petition for relief under the provisions of
Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy
Court for the Southern District of New York. The filing is intended to allow
the company to restructure its financial obligations through a plan of
reorganization.
Welcome Home, Inc. is working to implement a plan to reverse declines in
operating results. The board of directors determined that the Chapter 11 filing
was the alternative that would allow Welcome Home, Inc. to continue in business
while restructuring its financial obligations and would be in the best interest
of its customers, creditors, employees and shareholders.
Fleet Capital Corporation has agreed to provide an interim post-petition
credit facility to Welcome Home, Inc., to enable it to continue to conduct its
business.
Welcome Home, Inc. is a publicly owned company and a specialty retailer of
decorative home furnishings with 184 stores located primarily in outlet/off-
price malls in 40 states.
Welcome Home, Inc. also announced that the listing of its common stock on
the NASDAQ National Market has been discontinued. The Company expects that its
common stock will trade in the over-the-counter market.
5
<PAGE>
THE NASDAQ STOCK MARKET, INC.
January 22, 1997
Mr. Thomas H. Quinn
Chief Executive Officer
Welcome Home, Inc.
309-D Raleigh Street
Wilmington, NC 28412
Dear Mr. Quinn:
On January 14, 1997, your company's shares of common stock, which traded under
the symbol WELC(1), were delisted from the Nasdaq National Market. This action
was taken as a result of your company's failure to meet the total assets and bid
price requirements as stated in Marketplace Rule 4310(c)(02) and 4310(c) (04).
If you have any questions on this action or would like information on how to
reapply for inclusion of your security in The Nasdaq Stock Market, please feel
free to contact me at (202) 496-2578.
Very truly yours,
/s/ Perry Peregoy
Perry Peregoy
Vice President
Listings
PP/dbd
- -------------------
(1) Nasdaq reserves the right to reassign, without prior notice, the trading
symbol previously utilized by the company while listed on The Nasdaq Stock
Market. Inclusion in the OTC Bulletin Board or similar service will not pre-
clude reassignment of the symbol, however, appropriate notification will be
provided to respective market participants prior to reassignment.
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