Document/Exhibit Description Pages Size
1: 8-K Current Report 3 12K
2: EX-2 Plan of Acquisition, Reorganization, Arrangement, 63 174K
Liquidation or Succession
3: EX-2 Plan of Acquisition, Reorganization, Arrangement, 10 30K
Liquidation or Succession
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 November 22, 1996
(Date of earliest event reported)
ERNST HOME CENTER, INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
0-24826 91-0213470
(Commission File Number) (IRS Employer Identification Number)
1511 Sixth Avenue, Seattle, Washington 98101
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (206)621-6700
Item 3. Bankruptcy or Receivership
On November 11, 1996, the Board of Directors of Ernst Home
Center, Inc. authorized the Company's officers to liquidate the
Company's assets. This decision was reached following a
determination by the Board of Directors that an orderly sale of
its assets is in the best interest of the Company's estate and
will maximize values. The liquidation is subject to Bankruptcy
Court approval.
On November 22, 1996, Ernst Home Center, Inc. received approval
from the United States Bankruptcy Court for the Western District
of Washington at Seattle to liquidate its assets. A liquidation
sale to sell all merchandise and furniture, fixtures and
equipment will begin on Saturday, November 23, and will continue
until these assets are sold. The disposition of real estate is
expected to take several months.
The Bankruptcy Court's ruling allows Ernst to retain the
Alamo/Ozer/Schottenstein (AOS) Group, a team of liquidation
specialists to aid in the disposition of its inventory, real
estate and fixtures.
See exhibit 2.1 and 2.2 Motion and Order (A) authorizing Ernst
Home Center, Inc. to conduct going out of business sales,
(B) authorizing the retention of AOS Investments, LLC as
liquidation and real estate consultant, (C) approving procedure
to reject leases and (D) granting other relief.
On November 22, 1996, the Company had 12,259,000 shares of common
stock, par value $0.01 issued and outstanding. The Company had
total assets of approximately $191 million and liabilities of
$246 million on September 28, 1996.
Item 7. Financial Statements and Exhibits
EXHIBIT
NO. DESCRIPTION
------- ------------
2.1 Motion (A) authorizing Ernst Home Center, Inc. to
conduct going out of business sales, (B) authorizing
the retention of AOS Investments, LLC as liquidation
and real estate consultant, (C) approving procedure to
reject leases and (D) granting other relief, dated
November 18, 1996.
2.2 Order (A) authorizing Ernst Home Center, Inc. to
conduct going out of business sales, (B) authorizing
the retention of AOS Investments, LLC as liquidation
and real estate consultant, (C) approving procedure to
reject leases and (D) granting other relief, dated
November 22, 1996.
Page 2
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 thereunto duly authorized.
ERNST HOME CENTER, INC.
Signature Title Date
----------- ------------------------------ --------
/s/Richard T. Gruber Chief Financial Officer, 12/02/96
--------------------- - Principal Financial Officer
Richard T. Gruber
Dates Referenced Herein
| Referenced-On Page |
|---|
| This ‘8-K’ Filing | | Date | | First | | Last | | | Other Filings |
|---|
| |  |
| Filed on: | | 12/6/96 | | | | | | | None on these Dates |
| For Period End: | | 11/22/96 | | 1 | | 2 |
| | 11/18/96 | | 2 |
| | 11/11/96 | | 2 |
| | 9/28/96 | | 2 |
| List all Filings |
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