SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 1-13710
NOTIFICATION OF LATE FILING
(Check One) [X] Form 10-K [ ] Form 11-K [ ] Form 20-F [ ] Form 10-Q
[ ] Form N-SAR
For Period Ended: December 31, 1997
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[ ] 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
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:
NOT APPLICABLE
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Part I - Registrant Information
Aid Auto Stores, Inc.
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Full name of registrant
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Former name if applicable
275 Grand Boulevard
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Address of principal executive office (street and number)
Westbury, New York 11590
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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)
[ ] (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 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
[X] (c) The account's statement or other exhibit required by Rule 12b-25
(c) has been attached if applicable.
Part III - Narrative
State below in reasonable detail the reasons why Form 10-K, 11-K, 20F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period. See Exhibit to Form 12B-25.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification.
Mr. Frank Mangano (516) 338-7889
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(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
Is it anticipated that any significant change in result 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 Company anticipates a significant decline in the results of
operations for the year ended December 31, 1997 as compared to
December 31, 1996. This decline is attributed to the reduced sales
volume in connection with the unseasonably mild winter and the
de-emphasis of the Company's wholesale business, as well as,
significant non-recurring charges associated with the financing
of its credit facility, change in method of accounting for
pre-opening costs and the write-off of intangibles and inventory.
The decrease in sales did not allow the Company to sufficiently
leverage its corporate overhead or take advantage of vendor provided
volume purchasing discounts to the extent realized in prior years.
This caused both significantly higher costs of goods sold and
operating expenses compared to revenues. A reasonable estimate of
the results cannot be made at this time as the audit of the Company's
financial statements has not been completed and adjustments may be
required.
Aid Auto Stores,Inc.
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(Name of Registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: April 1, 1998 By: /s/ Frank mangano
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Frank Mangano, Chief Financial Officer
Instruction. The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and title
of the person signing the form shall by typed or printed beneath the signature.
If the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
Attention:
Intentional misstatements or omissions of fact constitute Federal criminal
violations (see 18 U.S.C.1001).
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EXHIBIT TO FORM 12B-25
Grant Thornton LLP hereby states that they are unable to furnish the audit
on the consolidated financial statements of Aid Auto Stores, Inc. for the fiscal
year ended December 31, 1997 because they have not yet received all of the
information required to be able to give their report. This statement may be
filed as an Exhibit to the Form 12b-25 Notification of Late Filing of Aid Auto
Stores, Inc.
Dated: March 31, 1997
/s/ Grant Thornton LLP
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Grant Thornton LLP
