SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549





                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                       THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)         October 30, 1998    
                                                -------------------------------

                                 JUST TOYS, INC.
               (Exact Name of Registrant as Specified in Charter)




                                                                                    
            Delaware                                  0-20612                                    13-3677074
(State or Other Jurisdiction of              (Commission File Number)              (I.R.S. Employer Identification Number)
         Incorporation)



                              20 Livingstone Avenue
                           Dobbs Ferry, New York 10522
               (Address of Principal Executive Offices) (Zip Code)




Registrant's telephone number, including area code       (914) 674-8697     
                                                   ----------------------------







Item 5.           Other Events

         Pursuant to Paragraph F of the General Instructions to Form 8-K, the
Company hereby incorporates by reference herein the press release issued by the
Company on October 30, 1998, which is attached hereto as Exhibit 99.


Item 7.      Financial Statements, Pro Forma Financial Information and Exhibits

         (c) Exhibits

             Exhibit           Description

             99                Press release, dated October 30, 1998


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                                   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 hereunto duly authorized.



                                           JUST TOYS, INC.





November 2, 1998                           By: /s/ Barry Shapiro              
                                              --------------------------------
                                               Barry Shapiro
                                               President




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