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: May 11, 1998
Globe Business Resources, Inc.
Incorporated under the laws of Ohio
Commission File No. 0-27682 IRS Employer Identification No. 31-1256641
11260 Chester Road , Suite 400, Cincinnati, Ohio 45246
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(Address of Principal Executive Offices) (Zip Code)
(513) 771-8287
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(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Events
On May 12, 1998, the Company issued the attached press release reporting
on its acquisition of Feld Corporate Housing.
Item 7. Exhibits
99. Press Release dated May 12, 1998
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.
Globe Business Resources, Inc.
/s/ David D. Hoguet
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By: David D. Hoguet
Chief Executive Officer
Signed: May 15, 1998
EXHIBIT 99
CONTACT: DAVID D. HOGUET FOR IMMEDIATE RELEASE
(513) 771-8287
OR
BLAIR D. NELLER
(602) 240-2440
GLOBE BUSINESS RESOURCES ACQUIRES FELD CORPORATE HOUSING
CINCINNATI, May 12, 1998 -- Globe Business Resources, Inc. (NASDAQ:GLBE)
today announced that it has acquired the assets of Feld Corporate Housing, a
privately-owned company, for an undisclosed amount and that it will continue to
operate this business at certain Feld-owned or managed properties for at least
the next three years.
Feld Corporate Housing, based in Denver, Colorado, provides short-term
housing to transferring or temporarily assigned corporate personnel, new hires,
trainees and consultants and has annual revenues of approximately $5 million.
More than half of Feld's corporate housing units are located at the Breakers,
Denver's premiere resort rental property.
Commenting on the acquisition, David D. Hoguet, Chairman of Globe Business
Resources, said, "The acquisition of Feld Corporate Housing represents our
initial entry into the Denver corporate housing market. Feld has been one of our
largest furniture rental customers in the Denver market. With this acquisition,
we now operate in both corporate housing and furniture rental in thirteen of our
twenty-six markets."
Globe Business Resources, Inc., is a leading consolidator in the temporary
relocation industry. Doing business as Globe Furniture Rentals, the Company is
the third largest operator in the rent-to-rent segment of the furniture rental
business renting and selling quality office and residential furniture to a
variety of corporate and individual customers. Doing business as Globe Corporate
Stay International, the Company is also the second largest operator in the
corporate housing market, providing fully furnished short-term housing through
an inventory of leased housing units to relocated, transferred and temporary
personnel.