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: March 2, 2001 Date of Earliest Event Reported: February 23, 2001 TANDYCRAFTS, INC. A DELAWARE CORPORATION 1-7258 75-1475224 ------ ---------- (Commission File Number) (IRS Employer Identification No.) 1400 Everman Parkway Fort Worth, Texas 76140 (817) 551-9600 ITEM 5. OTHER EVENTS ------------ (a) On February 23, 2001, Registrant issued a press release announcing that the sale of its Cargo Furniture unit to Fort Worth, Texas-based retailer Pier 1 Imports, Inc. was completed. The Company also announced that James D. Allen had resigned as President and Chief Operating Officer of the Registrant and that Sheldon Stein had resigned from the Registrant's Board of Directors. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS --------------------------------- (c) Exhibits. Exhibit Number Description ------- ------------------------------------------------------ 99 On February 23, 2001, Registrant issued a press release announcing that the sale of its Cargo Furniture unit to Fort Worth-based Pier 1 Imports Inc. was completed. The Company also announced that James D. Allen had resigned as President and Chief Operating Officer of the Registrant and that Sheldon Stein had resigned from the Registrant's Board of Directors. 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 of the undersigned thereunto duly authorized. TANDYCRAFTS, INC. Date: March 2, 2001 By:/s/ Michael J. Walsh ---------------------------------- Michael J. Walsh, Chairman and Chief Executive Officer Date: March 2, 2001 By:/s/ Leo Taylor ---------------------------------- Leo Taylor, Senior Vice President of Finance (Principal Finance Officer)