Edison Brothers Stores Inc – ‘8-K’ for 5/28/99 – EX-99.3

On:  Friday, 5/28/99   ·   For:  5/28/99   ·   Accession #:  950124-99-3548   ·   File #:  1-01394

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         3     14K 
 2: EX-99.1     Operating Report                                      10     42K 
 3: EX-99.2     Press Release Dated April 22, 1999                     2      8K 
 4: EX-99.3     Press Release Dated May 17, 1999                       2      8K 
 5: EX-99.4     Press Release Dated May 20, 1999                       1      7K 
 6: EX-99.5     Press Release Dated May 27, 1999                       1      7K 

EX-99.3   —   Press Release Dated May 17, 1999

EX-99.3
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                                                                    EXHIBIT 99.3

                                               For further information, contact:
                                                            Tom Goyda, Shandwick
                                                                    314/552-6724
FOR IMMEDIATE RELEASE                                                           

EDISON BROTHERS ANNOUNCES AGREEMENTS
TO SELL 485 JW/JEANS WEST, CODA AND 5-7-9 STORES

BAKERS LIQUIDATION POSTPONED PENDING EXPECTED SALE

ST. LOUIS, May 17, 1999--Edison Brothers Stores, which filed for Chapter 11     
bankruptcy protection on March 9, has signed agreements and will request        
bankruptcy court approval for two sales involving most of the stores in its     
JW/Jeans West, Coda and 5-7-9 apparel chains. The company has also pulled its   
Bakers footwear stores from a previously filed request for court approval to    
liquidate the chain, based on the expectation that it will soon reach an        
agreement to sell that chain.                                                   
         Under the terms of an agreement signed today, Edison would sell a total
of 285 stores to Coda Acquisition Group, a private company, for $10.3 million.  
The sale would include 263 of the more than 350 JW/Jeans West and Coda stores,  
which target young, urban males, as well as 22 stores in Edison's Riggings      
menswear chain, which began liquidation sales on April 30. The sale also        
includes all of the merchandise inventory of JW/Jeans West and Coda stores.     
      Edison also signed an agreement to sell approximately 200 of the 250
stores in its 5-7-9 junior apparel chain for $13.7 million to The New 5-7-9 and 
Beyond, Inc., a private company and subsidiary of A.I.J.J. Enterprises, Inc.,   
commonly known as Rainbow Apparel, of Brooklyn, N.Y.                            
 All arrangements are subject to court approval at a later date.
Edison  also has amended a previous filing seeking approval to
liquidate the JW/Jeans West, Coda and 5-7-9 chains so as to include only the    
approximately 40 stores now operating as 5-7-9 that are not part of the sales   
agreements. If a liquidation bid for those stores       from Gordon Brothers    
Retail Partners LLC is approved by the bankruptcy court, clearance sales should 
start later this week.                                                          

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EX-99.3
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ADD ONE EDISON                                                                  

      Edison had previously signed a definitive agreement to sell its Repp
Ltd Big & Tall menswear stores and Repp By Mail catalog operations to J. Baker  
for approximately $31.7 million, and has announced plans to sell its Princeton, 
Ind. distribution center for $6.1 million. A second distribution center in      
Washington, Mo. will be closed by mid-July and is currently for sale. The       
company is also in the process of liquidating most of its Wild Pair footwear    
stores and Riggings menswear chain.                                             
    Edison Brothers Stores Inc. operates Bakers and Wild Pair footwear
stores; 5-7-9 junior apparel stores; Riggings, JW, Coda and Repp Ltd. Big & Tall
menswear stores; and Repp By Mail men's catalog. The company has nearly 1,500   
stores in the United States, Canada, Puerto Rico and the Virgin Islands.        

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Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
		6/1/99							None on these Dates
Filed on / For Period End:		5/28/99
		5/17/99		1
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