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): MARCH 5, 2001
UNITED STATIONERS INC.
(Exact name of Registrant as specified in charter)
DELAWARE 000-10653 36-3141189
(State or other jurisdiction (Commission file number) (I.R.S. employer
of incorporation) identification no.)
UNITED STATIONERS SUPPLY CO.
(Exact name of Registrant as specified in charter)
ILLINOIS 33-59811 36-2431718
(State or other jurisdiction (Commission file number) (I.R.S. employer
of incorporation) identification no.)
2200 EAST GOLF ROAD
DES PLAINES, ILLINOIS 60016-1267
(Address of Principal Executive Offices) (Zip Code)
Registrants' telephone number, including area code: (847) 699-5000
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UNITED STATIONERS INC. AND UNITED STATIONERS SUPPLY CO.
ITEM 5. OTHER EVENTS
On March 5, 2001, US Office Products Company ("USOP") and certain of
its affiliates filed voluntary petitions for relief under chapter 11 of the
Bankruptcy Code, 11 U.S.C. Sections 101 et seq., in the United States Bankruptcy
Court for the District of Delaware. USOP is a significant customer of United
Stationers Inc. and its affiliates (collectively, the "Company"), Since 1996,
the Company has regularly supplied goods and services to USOP and its
affiliates. For the twelve-month period ended with the date of the bankruptcy
filing, USOP and its affiliates accounted for approximately 8% of the Company's
total revenue. Amounts owed the Company by USOP and its affiliates are evidenced
by, among other things, an unsecured promissory note dated March 1, 2000, made
jointly and severally by USOP and its affiliates in favor of the Company. Prior
to the bankruptcy filing, the Company sold directly to USOP and its affiliates,
including invoices with each such delivery. Once a month, USOP was provided with
a consolidated accounting of goods and services supplied by the Company. As of
the bankruptcy filing, USOP owed the Company a balance of approximately $26
million.
In recent months USOP and the Company had discussions concerning the
future of the relationship. In the course of those discussions, the Company was
advised that, in the event of a reorganization (through bankruptcy filing or
otherwise), USOP intended to preserve the relationship at or as near to current
levels as its reorganized structure would reasonably permit.
USOP has identified the Company as a critical vendor to its
business. In USOP's motion to the Bankruptcy Court filed today, USOP seeks
authority to pay the entire prepetition unsecured claim of the Company in
return for the Company supplying USOP on supply and credit terms that are the
same as or better than those provided to USOP and certain of its affiliates
during the last quarter of 2000.
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.
United Stationers Inc.
United Stationers Supply Co.
Dated: March 5, 2001 By: /s/ Eileen A. Kamerick
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Eileen A. Kamerick
Executive Vice President and
Chief Financial Officer