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) September 18, 1996
NEW ENGLAND BUSINESS SERVICE, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-11427 04-2942374
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
500 Main Street 01471
Groton, Massachusetts -----
--------------------- (Zip Code)
(Address of principal executive offices)
(508) 448-6111
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(Registrant's telephone number,
including area code)
N/A
---
(Former name or former address, if changed since last report)
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Items 1-4. Not Applicable.
Item 5. New Kinko's Retail Direction Announced, First Quarter Charge
to be Taken
New England Business Service, Inc. announced the decision to
eliminate the Company's 75 existing NEBS manned print desks at
Kinko's as well as the closing of the NEBS offices in Phoenix
and stationery plant in Scottsdale, Arizona. The total cost
of $6,500,000 is expected to reduce first quarter earnings by
$0.21 per share and earnings for the remainder of the year by
$0.08 per share. As part of the program, the Company will incur
a one-time exit charge of $5,200,000 in the first quarter and
expense of $1,300,000 during the year associated with employee
severance, facility closures, equipment write-offs, and other
cost actions. The actions taken are expected to have the
effect, when fully implemented, of increasing the Company's
quarterly earnings by as much as $0.12 $o.14 per share.
The restructuring will result in a reduction of approximately 11%
of the Company's full and part-time positions.
Item 6. Not Applicable.
Item 7. Exhibits.
Exhibit No. Description
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(99) Press release, dated September 18, 1996,
issued by the Company.
Item 8. Not Applicable.
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SIGNATURES
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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.
NEW ENGLAND BUSINESS SERVICE, INC.
(Registrant)
By: /s/Russell V. Corsini, Jr.
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Russell V. Corsini, Jr.
Vice President, Chief Financial
Officer
Dated: September 18, 1996