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): January 26, 1996
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(January 12, 1996)
Ames Department Stores, Inc.
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(Exact Name of Registrant As Specified In Its Charter)
Delaware
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(State Or Other Jurisdiction Of Incorporation)
1-5380 04-2269444
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(Commission File Number) (IRS Employer Identification No.)
2418 Main Street; Rocky Hill, Connecticut 06067-0801
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(Address Of Principal Executive Offices) (Zip Code)
(203) 257-2000
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name Or Former Address, If Changed Since Last Report)
Exhibit Index on Page 3
Page 1 of 26 (Including Exhibits)
Item 5: OTHER EVENTS
On January 12, 1996, Ames Department Stores, Inc. ("Ames"
or the "Company") issued a press release regarding fiscal
December, 1995 profitability, the adoption of certain cost-reduction
initiatives and the amendment to certain covenants and provisions
of the Company's $300 million revolving credit agreement (the
"Credit Agreement") with a group of banks and financial
institutions led by BankAmerica Business Credit, as agent. A
copy of the press release is attached hereto as Exhibit 20 and is
incorporated by reference herein. A copy of the amendment to
the Credit Agreement is attached hereto as Exhibit 4 and is
incorporated by reference herein.
The amendment modifies, among other things, the definition
of EBITDA (earnings before interest expense, income taxes,
depreciation and amortization, gains or losses on the sale of
facilities after January 28, 1996 and certain other noncash
charges); adjusts the minimum EBITDA covenant and the
minimum EBITDA to cash interest expense ratio required
beginning with the quarter ended January 27, 1996; and permits
borrowings under the Credit Agreement of up to $15 million during
the period beginning November 15, 1995 and ending February 15,
1996 (the "Clean-up Period"). As of the date of the filing of this
Form 8-K, the Company did not incur any borrowings under the
Credit Agreement for 30 consecutive days during the Clean-up
Period.
Item 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
Exhibit: 4 Fourth Amendment and Waiver Agreement dated as
of January 12, 1996 between BankAmerica Business
Credit, Inc., as Agent, and Ames Department
Stores, Inc.
Exhibit 20 Press Release dated January 12, 1996
Page 2 of 26
INDEX TO EXHIBITS
Exhibit No. Exhibit Page No.
4 Fourth Amendment and Waiver Agreement 5
dated as of January 12, 1996 between
BankAmerica Business Credit, Inc., as
Agent and Ames Department Stores, Inc.
20 Press Release dated January 12, 1996 25
Page 3 of 26
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.
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Registrant
Dated: January 24, 1996 By: /s/ John F. Burtelow
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John F. Burtelow
Executive Vice President,
Chief Financial Officer
Dated: January 24, 1996 By: /s/ William C. Najdecki
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William C. Najdecki
Senior Vice President,
Finance
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