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) July 13, 2001
Jenny Craig, Inc.
Delaware
| 001-10887 | 33-0366188 | |
| (Commission File Number) | (IRS Employer Identification No.) |
| 11355 North Torrey Pines Road, La Jolla, California | 92037 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
(858) 812-7000
Not Applicable
| Item 2. Acquisition or Disposition of Assets | ||||||||
| Item 7. | ||||||||
| Exhibit 10 | ||||||||
Item 2. Acquisition or Disposition of Assets
As previously announced, on July 13, 2001 Jenny Craig, Inc. (“JCI” or the “Company”) sold to National University for a purchase price of $21,000,000 real property located at 11355 North Torrey Pines Road, La Jolla, California which was used as the corporate headquarters of the Company. After repayment of related indebtedness and expenses of sale, the Company received approximately $15,000,000 in net cash proceeds which will not be subject to tax because of existing net operating loss carryforwards. The gain on the sale of the building will be recorded in the quarter ending September 30, 2001. The Company will be able to continue to occupy the building until June 30, 2002 while it pursues relocation.
Item 7.
Exhibit 10. Purchase and Sale Agreement and Joint Escrow Instructions dated June 12, 2001 by and between Jenny Craig Operations, Inc. and National University.
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.
| JENNY CRAIG, INC. (Registrant) | ||
| | ||
| Date September 21, 2001 | By | /s/ JAMES S. KELLY |
| JAMES KELLY, Vice President and Chief Financial Officer | ||
