SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number: 1-9875
NOTIFICATION OF LATE FILING
(Check One: [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F
[X] Form 10-Q [ ] Form N-SAR
For Period Ended: September 30, 1994
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended: _____________________________________________
Read attached instruction sheet before preparing form. Please print or
type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates: _______________________
Part I. Registrant Information
Full name of registrant: STANDARD COMMERCIAL CORPORATION
___________________________________________________
Former name if applicable ___________________________________________________
2201 Miller Road
______________________________________________________________________________
Address of principal executive office [Street and number]
Wilson, North Carolina 27893
______________________________________________________________________________
City, State and Zip Code
Part II. Rule 12b-25 (b) and (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check appropriate box.)
[X] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on
or before the 15th calendar day following the prescribed due date; or the
subject quarterly report or transition report on Form 10-Q, or portion
thereof will be filed on or before the fifth calendar day following the
prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule 12b-
25(c) has been attached if applicable.
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Part III. Narrative
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed.)
The Registrant is in the process of negotiating with certain of its
lenders amendments of certain loan agreements. Absent such amendments the
Registrant will be in violation of certain provisions of the loan agreements
on November 15, 1994. The persons responsible for preparing the 10-Q report
are engaged in these extensive negotiations and require additional time to
prepare the report.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard to this
notification
Guy M. Ross (919) 291-5507
______________________________________________________________________________
(Name) (Area code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d)
of the Securities Exchange Act of 1934 or Section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is
no, identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report or
portion thereof?
[X] Yes [ ] No
If so: attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
The results for the quarter ended September 30, 1994 were significantly
worse than those for the quarter ended September 30, 1993. For the 1993
quarter there was a loss of $523,000 ($.07 per share). As announced in a
press release dated November 8, 1994, the loss for the 1994 quarter was
$4.1 million ($0.49 per share).
STANDARD COMMERCIAL CORPORATION
______________________________________________________________________________
(Name of registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date November 14, 1994 By /s/ Guy M. Ross
_______________________ ______________________________
Vice President
