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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


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                                    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): January 15, 1998


                    MacFrugal's Bargains -- Close-outs Inc.
               (Exact Name of Registrant as Specified in Charter)





                                                                             
               DELAWARE                               0-6672                            95-2745285   
               --------                               ------                            ----------
    (State or Other Jurisdiction of          (Commission File Number)       (IRS Employer Identification No.)
            Incorporation)


     2430 East Del Amo Boulevard, Dominguez, California                         90220-6306
         (Address of Principal Executive Offices)                               (Zip Code)



       Registrant's telephone number, including area code: (310) 537-9220

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ITEM 5.  OTHER EVENTS.

              On January 15, 1998, the stockholders of Mac Frugal's Bargains - 
Close-outs Inc. ("Mac Frugal's") approved the terms of the Agreement and Plan of
Merger, dated November 4, 1997, among Consolidated Stores Corporation
("Consolidated"), MBC Consolidated Acquisition Corporation ("Sub") and Mac
Frugal's, whereby Sub will be merged with and into Mac Frugal's, resulting in
Mac Frugal's being a wholly-owned subsidiary of Consolidated (the "Merger"). 

              On January 16, 1998, Mac Frugal's and Sub consummated the Merger.
In connection with the consummation of the Merger, Consolidated issued a press
release dated January 16, 1998. A copy of the press release is attached to this
Form 8-K as Exhibit "1."



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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.


                                      Mac Frugal's Bargains - Close-outs Inc.



Date: January 16, 1998                   By:  /s/ Michael J. Potter   
                                             -------------------------------
                                                   Michael J. Potter
                                                   Senior Vice President and
                                                   Chief Financial Officer