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): JUNE 12, 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 2. ACQUISITION OR DISPOSITION OF ASSETS
The Company has entered into an agency agreement with Gordon
Brothers Partners, Inc. with respect to liquidation sales to
be conducted within the next several weeks at nine stores.
Under the agreement with Gordon Brothers, Luria's received an
up-front cash payment of approximately $8.6 million for the
merchandise located at the stores, which was used to pay down
debt. The liquidation sales are part of the Company's strategy
to consolidate and geographically focus its efforts on
performing stores, while addressing its working capital needs
as previously announced in a Form 8-K, dated December 17,
1996. After the sales are completed, the Company will operate
18 stores in Florida and will take a restructuring charge for
the closed stores.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
EXHIBITS
2.1 Agency Agreement, dated June 12, 1997, between
Gordon Brothers Partners, Inc. and the Company.
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: June 27, 1997 By: /S/RACHMIL LEKACH
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Rachmil Lekach,
Chief Executive Officer
EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION
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2.1 Agency Agreement, dated as of June 12, 1997 between
Gordon Brothers Partners, Inc. and the Company.