-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NcAc5849ureLjvUKN3KSzxy8mCpyMI5WKpWwHLgjnEGKN5Z2vAD6DZ8fiAgsUCvn 0kAXgozeGhZAmWyz9ekCdA== 0001104659-07-064045.txt : 20070821 0001104659-07-064045.hdr.sgml : 20070821 20070821172640 ACCESSION NUMBER: 0001104659-07-064045 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20070821 DATE AS OF CHANGE: 20070821 GROUP MEMBERS: BC ADVISORS, LLC GROUP MEMBERS: STEVEN R. BECKER SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WILSONS THE LEATHER EXPERTS INC CENTRAL INDEX KEY: 0001016607 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FAMILY CLOTHING STORES [5651] IRS NUMBER: 411839933 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-52481 FILM NUMBER: 071071559 BUSINESS ADDRESS: STREET 1: 7401 BOONE AVENUE NORTH STREET 2: ST LOUIS PARK CITY: BROOKLYN PARK STATE: MN ZIP: 55428 BUSINESS PHONE: 6123914000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SRB Management, L.P. CENTRAL INDEX KEY: 0001346543 IRS NUMBER: 000000000 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 300 CRESCENT COURT STREET 2: SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 214-756-6073 MAIL ADDRESS: STREET 1: 300 CRESCENT COURT STREET 2: SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 SC 13G 1 a07-22458_1sc13g.htm BENEFICIAL OWNERSHIP OF 5% OR MORE

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

 

WILSONS THE LEATHER EXPERTS INC.

(Name of Issuer)

 

Common Stock,

(Title of Class of Securities)

 

972463103

(CUSIP Number)

 

August 13, 2007

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed:

 

[  ] Rule 13d-1(b)

[X] Rule 13d-1(c)

[   ] Rule 13d-1(d)

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 




 

CUSIP No. 972463103      13G

 

1.         NAME OF REPORTING PERSON (S.S. or I.R.S. Identification No. of Above Person)

 

BC Advisors, LLC

 

2.         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:

 

(a)        [ ]

(b)        [ ]

 

3.         SEC USE ONLY

 

4.         CITIZENSHIP OR PLACE OF ORGANIZATION:  Texas

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

 

5.

SOLE VOTING POWER

0*

 

 

 

6.

SHARED VOTING POWER

2,001,858*

 

 

 

7.

SOLE DISPOSITIVE POWER

0

 

 

 

8.

SHARED DISPOSITIVE POWER

2,001,858*

 

9.                                    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:     2,001,858*

 

10.                            CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES:      [ ]

 

11.       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:  5.1%*

 

12.       TYPE OF PERSON REPORTING: HC/CO

 

*The percentage is based on 39,225,713 outstanding shares of common stock of the issuer, outstanding as of June 6, 2007, as reported by the issuer in its Quarterly Report on Form 10-Q for the quarterly period ended May 5, 2007.




 

CUSIP No. 972463103      13G

 

1.         NAME OF REPORTING PERSON (S.S. or I.R.S. Identification No. of Above Person)

 

SRB Management, L.P.

 

2.         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:

 

(a)        [ ]

(b)        [ ]

 

3.         SEC USE ONLY

 

4.         CITIZENSHIP OR PLACE OF ORGANIZATION:  Texas

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

 

5.

SOLE VOTING POWER

0

 

 

 

6.

SHARED VOTING POWER

2,001,858*

 

 

 

7.

SOLE DISPOSITIVE POWER

0

 

 

 

8.

SHARED DISPOSITIVE POWER

2,001,858*

 

9.                                    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:     2,001,858*

 

10.                            CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES:      [ ]

 

11.       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:  5.1%*

 

12.       TYPE OF PERSON REPORTING: IA/PN

 

*The percentage is based on 39,225,713 outstanding shares of common stock of the issuer, outstanding as of June 6, 2007, as reported by the issuer in its Quarterly Report on Form 10-Q for the quarterly period ended May 5, 2007.




 

CUSIP No. 972463103      13G

 

1.         NAME OF REPORTING PERSON (S.S. or I.R.S. Identification No. of Above Person)

 

Steven R. Becker

 

2.         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:

 

(a)        [ ]

(b)        [ ]

 

3.         SEC USE ONLY

 

4.         CITIZENSHIP OR PLACE OF ORGANIZATION: United States

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

 

5.

SOLE VOTING POWER

0

 

 

 

6.

SHARED VOTING POWER

2,001,858*

 

 

 

7.

SOLE DISPOSITIVE POWER

0

 

 

 

8.

SHARED DISPOSITIVE POWER

2,001,858*

 

9.                                    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:     2,001,858*

 

10.                            CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES:      [ ]

 

11.       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:  5.1%*

 

12.       TYPE OF PERSON REPORTING:  HC/IN

 

*The percentage is based on 39,225,713 outstanding shares of common stock of the issuer, outstanding as of June 6, 2007, as reported by the issuer in its Quarterly Report on Form 10-Q for the quarterly period ended May 5, 2007.




This Schedule 13G relates to the common stock (“Common Stock”) of Wilsons The Leather Experts Inc., acquired by SRB Management, L.P., a Texas limited  partnership (“SRB Management”), for the accountS of (1) SRB Greenway Capital, L.P., a Texas limited partnership (“SRBGC”), (2) SRB Greenway Capital (Q.P.), L.P., a Texas limited partnership (“SRBQP”) and (3) SRB Greenway Offshore Operating Fund, L.P., a Cayman Islands limited partnership (“SRB Offshore”).  SRB Management is the general partner of SRBGC, SRBQP and SRB Offshore. BC Advisors, LLC, a Texas limited liability company (“BCA”), is the general partner of SRB Management.  Steven R. Becker is the sole member of BCA.

 

Item 1(a):

Name of Issuer:  WILSONS THE LEATHER EXPERTS INC.

 

 

 

Item 1(b):

Address of Issuer’s Principal Executive Offices:

 

 

 

 

 

7401 Boone Ave. N., Brooklyn Park, Minnesota

 

 

 

 

 

 

Item 2(a):

Name of Person Filing:

 

 

 

 

 

See Item 1 of each cover page.

 

 

 

 

 

 

Item 2(b):

Address of Principal Business Office:

 

 

 

 

 

300 Crescent Court, Suite 1111

 

 

Dallas, Texas 75201

 

 

 

Item 2(c):

Citizenship:

 

 

 

 

 

See Item 4 of each cover page.

 

 

 

 

 

 

Item 2(d):

Title of Class of Securities:  Common Stock, par value $.01 per share

 

 

 

Item 2(e):

CUSIP Number:  972463103

 

 

 

Item 3:

The reporting person is:

 

 

 

 

 

Not Applicable

 

 




 

Item 4:              Ownership

 

(a)                                     Amount beneficially owned: 

As of August 13, 2007, SRB Management was the beneficial owner of 2,001,858 shares of Common Stock for the accounts of SRBGC, SRBQP and SRB Offshore.  As the general partner of SRB Management, BCA may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by SRB Management, and as the sole member of BCA, Steven R. Becker may also be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by SRB Management.

 

(b)        Percent of class:  See Item 11 of each cover page.

 

(c)        Number of shares as to which the person has:

 

(i)

 

sole power to vote or to direct the vote:

 

 

See Item 5 of each cover page.

 

 

 

(ii)

 

shared power to vote or to direct the vote:

 

 

See Item 6 of each cover page.

 

 

 

(iii)

 

sole power to dispose or to direct the disposition of: 

 

 

See Item 7 of each cover page.

 

 

 

(iv)

 

shared power to dispose or to direct the disposition of: 

 

 

See Item 8 of each cover page.

 

 




 

 

Item 5:

Ownership of Five Percent or Less of a Class:

 

 

 

 

 

Not applicable.

 

 

 

Item 6:

Ownership of More than Five Percent on Behalf of Another Person:

 

 

 

 

 

Not applicable.

 

 

 

 

Item 7:

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company:

 

 

 

 

 

Not applicable.

 

 

 

Item 8:

Identification and Classification of Members of the Group:

 

 

 

 

 

Not applicable.

 

 

 

Item 9:

Notice of Dissolution of Group:

 

 

 

 

 

Not applicable.

 




 

Item 10:

 

Certification:

 

 

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

BC ADVISORS, LLC

 

 

 

 

By:

/s/ Steven R. Becker

 

 

 

Steven R. Becker, Member

 

 

 

 

SRB MANAGEMENT, L.P.

 

 

 

 

By:

BC Advisors, LLC, its general partner

 

 

 

 

By:

/s/ Steven R. Becker

 

 

 

Steven R. Becker, Member

 

 

 

 

/s/ Steven R. Becker

 

 

Steven R. Becker

 

 

 

 

August 21, 2007

 



EX-99.1 2 a07-22458_1ex99d1.htm EX-99.1

EXHIBIT 1

 

JOINT FILING AGREEMENT

 

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them a Statement on Schedule 13G (including amendments thereto) with regard to the common stock of WILSONS THE LEATHER EXPERTS INC. and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filings. In evidence thereof, the undersigned, being duly authorized, hereby execute this Joint Filing Agreement as of August 21, 2007.

 

BC ADVISORS, LLC

 

 

 

 

By:

/s/ Steven R. Becker

 

 

 

Steven R. Becker, Member

 

 

 

 

 

 

 

SRB MANAGEMENT, L.P.

 

 

 

By:

BC Advisors, LLC, its general partner

 

 

 

 

By:

/s/ Steven R. Becker

 

 

 

Steven R. Becker, Member

 

 

 

 

/s/ Steven R. Becker

 

 

Steven R. Becker

 

 



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