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 14, 1997
L. LURIA & SON, INC.
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(Exact name of registrant as specified in its charter)
FLORIDA
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(State or other jurisdiction of incorporation
1-8057 59-0620505
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(Commission File Number) (IRS Employer Identification No.)
5770 MIAMI LAKES DRIVE
MIAMI LAKES, FLORIDA 33014
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (305) 557-9000
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS. In conjunction with the filing of its Form 10-Q for the
thirteen weeks ended November 2, 1996, the Company disclosed a recovery
plan to address its working capital needs, which included, among other
things, selling the Company's warehouse/headquarters building. As part
of such plan, the Company has sold the warehouse/headquarters building
for $5.6 million. The proceeds from the sale will be used to pay off an
$850,000 debt remaining on the building and the remainder of the
proceeds will be used for general working capital needs. Also, the
Company announced that it settled for $1.85 million a 1993 lawsuit
against Service Merchandise Co., Inc. in which the Company had won a
$13.8 million judgment in November 1995. Service Merchandise had
appealed the final judgment and the Company was in the process of
filing an answer to the appeal when the settlement was negotiated. No
award amount had been reflected in the Company's financial statements.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
None.
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.
L. LURIA & SON, INC.
Dated: March 31, 1997 By: /s/ILIA LEKACH
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Ilia Lekach
Chairman of the Board