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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) March 17, 1997
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PERSONNEL GROUP OF AMERICA, INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 001-13956 56-1930691
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
6302 Fairview Road, Suite 201
Charlotte, North Carolina 28210
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(Address of Principal Executive Offices)
(Zip Code)
(704) 442-5100
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former name or address, if changed from last report)
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Item 4. Changes in Registrant's Certifying Accountant.
(a) As the result of hiring a new Chief Financial Officer, Mr. James Hunt, who
has a family relationship with a partner in the Greensboro, North Carolina
office of Arthur Andersen LLP ("Arthur Andersen"), which had served as the
Company's independent public accountants since 1995, the Company received a
letter from Arthur Andersen dated March 17, 1997 indicating that it would
decline to stand for reappointment as the Company's independent public
accountants for the current fiscal year.
The reports of Arthur Andersen on the Company's financial statements
for the fiscal years ended December 31, 1995 and December 29, 1996 contained no
adverse opinion or disclaimer of opinion, nor were they qualified or modified as
to uncertainty, audit scope or accounting principles.
In connection with the audits of the Company's financial statements for
each of the fiscal years ended December 31, 1995 and December 29, 1996, and in
the subsequent interim period, there were no disagreements with Arthur Andersen
on matters of accounting principles or practices, financial statement disclosure
or auditing scope or procedures which, if not resolved to the satisfaction of
Arthur Andersen, would have caused Arthur Andersen to make reference to such
matter in its report.
The Company has furnished Arthur Andersen with a copy of the foregoing
disclosure and requested Arthur Andersen to furnish it with a letter addressed
to the Securities and Exchange Commission indicating any disagreement with the
foregoing statements. A copy of the letter of Arthur Andersen to the Securities
and Exchange Commission, dated March 21, 1997, is filed as Exhibit 16 hereto.
(b) The Company's Board of Directors, upon the recommendation of the Audit
Committee, has engaged Price Waterhouse LLP ("Price Waterhouse") as of March 17,
1997 as the Company's independent public accountants for its fiscal year ending
December 28, 1997. The Company's selection of Price Waterhouse will be submitted
for ratification by the Company's shareholders at the 1997 Annual Meeting to be
held May 21, 1997.
Item 7. Exhibits.
The following exhibits are filed as part of this report.
Exhibits
Exhibit 16 -- Letter of Arthur Andersen LLP to the Securities
and Exchange Commission dated March 21, 1997.
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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.
Date: March 21, 1997
PERSONNEL GROUP OF AMERICA, INC.
By: /s/ Ken R. Bramlett, Jr.
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Ken R. Bramlett, Jr.
Sr. V.P. and General Counsel
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INDEX TO EXHIBITS
Documents filed under Item 7
Exhibit 16 -- Letter of Arthur Andersen LLP to the Securities
and Exchange Commission dated March 21, 1997
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EXHIBIT 16
ARTHUR
ANDERSEN
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Arthur Andersen LLP
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Suite 3800
100 North Tryon Street
Charlotte NC 28202-4000
704 332 0092
March 21, 1997
Office of Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Dear Sirs:
We have read the first four paragraphs of Item 4(a) included in the attached
Form 8-K dated March 21, 1997, of Personnel Group of America, Inc. to be filed
with the Securities and Exchange Commission and are in agreement with the
statements contained therein.
Very truly yours,
ARTHUR ANDERSEN LLP
By /s/ K. E. Frauenheim
K. Eugene Frauenheim II
DCW
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