SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: March 5, 2003
SERVICE MERCHANDISE COMPANY, INC.
(Debtor-in-Possession as of March 27, 1999)
| Tennessee | 1-9223 | 62-0816060 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| 7100 Service Merchandise Boulevard, Brentwood, TN (Address of principal executive offices) | 37027 (Zip code) |
Registrant’s telephone number, including area code: (615) 660-6000
Not Applicable
| Item 5. Other Events | ||||||||
| Item 7. Financial Statements, Pro Forma Financial Information and Exhibits | ||||||||
| SIGNATURES | ||||||||
| EXHIBIT INDEX | ||||||||
| Joint Plan of Service Merchandise Company, Inc. | ||||||||
| Disclosure Statement | ||||||||
Item 5. Other Events
On March 5, 2003, Service Merchandise Company, Inc., a Tennessee corporation (the “Company”) and 31 of its affiliates (the “Affiliate Debtors”) filed with the United States Bankruptcy Court for the Middle District of Tennessee, Nashville Division (the “Bankruptcy Court”) (i) a Joint Plan of Service Merchandise Company, Inc. and its Affiliate Debtors (the “Plan”) and (ii) a Disclosure Statement with Respect to Joint Plan of Service Merchandise Company, Inc. and its Affiliate Debtors (the “Disclosure Statement”).
Each of the Plan and the Disclosure Statement are subject to modification and alteration and approval of the Bankruptcy Court. A hearing on approval of the Disclosure Statement, as it may be amended or modified is currently scheduled for April 4, 2003. A hearing on confirmation of the Plan is currently scheduled for May 12, 2003.
The Plan provides that, among other things, as of the effective date of the Plan, all of the Company’s existing securities, including, among other securities, the 8 3/8% senior notes due 2001, the first mortgage secured notes due June 28, 2000, the 9% senior subordinated debentures due 2004, the common stock, the preferred stock, and all options, warrants, calls, rights, puts, awards, commitments, or any other agreements to acquire such common stock or preferred stock, shall be deemed canceled and of no further force and effect. Further, the Plan provides no recovery to the holders of common stock, preferred stock, options, warrants, calls, rights, puts, awards, commitments, or any other agreements to acquire such common stock or preferred stock and the holders of these securities will receive no value for their interests. Accordingly, the Company believes the value of these interests is highly speculative.
The Company can give no assurances that the Plan or the Disclosure Statement will not be materially modified or amended prior to final approval by the Bankruptcy Court. As such, readers are cautioned not to place undue reliance on the terms and provisions of the Plan or Disclosure Statement filed herewith as Exhibits 99.1 and 99.2, respectively.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
| (c) | Exhibits |
| 99.1 | Joint Plan of Service Merchandise Company, Inc. and its Affiliate Debtors | |||||
| 99.2 | Disclosure Statement with Respect to Joint Plan of Service Merchandise Company, Inc. and its Affiliate Debtors |
SIGNATURES
Pursuant to the requirements of Section 12 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.
| SERVICE MERCHANDISE COMPANY, INC. |
| Date: March 19, 2003 | By: | /s/ C. Steven Moore | ||
| C. Steven Moore Senior Vice President, Chief Administrative Officer, Secretary and General Counsel | ||||
EXHIBIT INDEX
| No. | Exhibit | |
| 99.1 | Joint Plan of Service Merchandise Company, Inc. and its Affiliate Debtors | |
| 99.2 | Disclosure Statement with Respect to Joint Plan of Service Merchandise Company, Inc. and its Affiliate Debtors | |
