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 (Date of earliest event reported): April 8, 1994
(March 31, 1994)
Ames Department Stores, Inc.
(Exact Name of Registrant As Specified In Its Charter)
____________________Delaware__________________
(State Or Other Jurisdiction Of Incorporation)
_______1-5380___________ ____________04-2269444___________
(Commission File Number) (IRS Employer Identification No.)
2418 Main Street; Rocky Hill, Connecticut 06067-0801
(Address Of Principal Executive Offices) (Zip Code)
____________________(203) 257-2000____________________
(Registrant's Telephone Number, Including Area Code)
_______________________Not Applicable________________________
(Former Name Or Former Address, If Changed Since Last Report)
Exhibit Index on Page 3
Page 1 of 37 (Including Exhibit)
Item 5: OTHER EVENTS
On March 31, 1994, Ames Department Stores, Inc. and Subsidiaries (the
"Company") issued a press release announcing that it had reached
agreement on a $19 million settlement in the lawsuit it had filed
October 14, 1992 against Wertheim Schroder & Co. Incorporated and its
Chairman. A copy of the settlement agreement is attached as Exhibit
10 and is incorporated by reference herein.
The settlement is subject to bankruptcy court (the "Court") approval.
A hearing on the settlement has been scheduled for April 26, 1994.
If the Court approves the settlement, the proceeds will be
distributed according to the terms of the Company's plan of
reorganization. As previously reported in the press release, the
Company estimates that it will receive approximately $12 million
(including reimbursement for its expenses in the suit) and the trust
established for pre-petition creditors of the parent company (Ames
Department Stores, Inc.) will receive approximately $7 million. The
Company anticipates that it will record a non-recurring gain for its
portion of the settlement, including the reimbursement for expenses
(which were previously expensed), upon final Court approval and
receipt of the funds.
Item 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
Exhibit: 10 Settlement Agreement, dated March 31, 1994, between
Ames Department Stores, Inc. and Subsidiaries and
Wertheim Schroder & Co. Incorporated and James A.
Harmon.
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INDEX TO EXHIBITS
Exhibit No. Exhibit Page No.
10 Settlement Agreement, dated March 31, 1994, 5
between Ames Department Stores, Inc. and
Subsidiaries and Wertheim Schroder & Co.
Incorporated and James A. Harmon.
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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 thereunto duly authorized.
AMES DEPARTMENT STORES, INC.
Registrant
Dated: April 8, 1994 By: /s/ Peter Thorner
---------------------------
Peter Thorner
President, Chief Operating
Officer and Director
Dated: April 8, 1994 By: /s/ William C. Najdecki
---------------------------
William C. Najdecki
Senior Vice President,
Chief Accounting Officer
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