SC 13G

0000950123-07-007642.txt : 20070518 0000950123-07-007642.hdr.sgml : 20070518 20070518060153 ACCESSION NUMBER: 0000950123-07-007642 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20070518 DATE AS OF CHANGE: 20070518 GROUP MEMBERS: PAR CAPITAL MANAGEMENT, INC. GROUP MEMBERS: PAR GROUP, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: IC ISAACS & CO INC CENTRAL INDEX KEY: 0001041179 STANDARD INDUSTRIAL CLASSIFICATION: KNIT OUTERWEAR MILLS [2253] IRS NUMBER: 521377061 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-53261 FILM NUMBER: 07863042 BUSINESS ADDRESS: STREET 1: 3840 BANK ST CITY: BALTIMORE STATE: MD ZIP: 21224 BUSINESS PHONE: 4103428200 MAIL ADDRESS: STREET 1: 3840 BANK STREET CITY: BALTOMORE STATE: MD ZIP: 21224 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PAR INVESTMENT PARTNERS LP CENTRAL INDEX KEY: 0001066867 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: C/O PAR CAPITAL MGT STREET 2: ONE INTERNATIONAL PLACE, SUITE 2401 CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6175268964 MAIL ADDRESS: STREET 1: ONE INTERNATIONAL PLACE, SUITE 2400 CITY: BOSTON STATE: MA ZIP: 02110 SC 13G 1 y35087gsc13g.htm SCHEDULE 13G SC 13G


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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. )*

I. C. Isaacs & Company, Incorporated

(Name of Issuer)

COMMON STOCK, PAR VALUE $.0001

(Title of Class of Securities)

464192103

(CUSIP Number)

May 10, 2007

(Date of Event Which Requires Filing of this Statement)

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

o Rule 13d-1(b)

þ Rule 13d-1(c)

o 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 in 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.		464192103		Page		2		of		8


1	NAMES OF REPORTING PERSONS: PAR Investment Partners, L.P.

	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
	(a) o
	(b) þ

3	SEC USE ONLY:



4	CITIZENSHIP OR PLACE OF ORGANIZATION:

	State of Delaware

		5	SOLE VOTING POWER:

NUMBER OF			841,900 COMMON STOCK, par value $.0001

SHARES		6	SHARED VOTING POWER:
BENEFICIALLY
OWNED BY			None

EACH		7	SOLE DISPOSITIVE POWER:
REPORTING
PERSON			841,900 COMMON STOCK, par value $.0001

WITH:		8	SHARED DISPOSITIVE POWER:

			None

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

	841,900 COMMON STOCK, par value $.0001

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):

	6.85% COMMON STOCK, par value $.0001

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):

	PN


CUSIP No.		464192103		Page		3		of		8


1	NAMES OF REPORTING PERSONS: PAR Group, L.P.

	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
	(a) o
	(b) þ

3	SEC USE ONLY:



4	CITIZENSHIP OR PLACE OF ORGANIZATION:

	State of Delaware

		5	SOLE VOTING POWER:

NUMBER OF			841,900 COMMON STOCK, par value $.0001

SHARES		6	SHARED VOTING POWER:
BENEFICIALLY
OWNED BY			None

EACH		7	SOLE DISPOSITIVE POWER:
REPORTING
PERSON			841,900 COMMON STOCK, par value $.0001

WITH:		8	SHARED DISPOSITIVE POWER:

			None

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

	841,900 COMMON STOCK, par value $.0001

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):

	6.85% COMMON STOCK, par value $.0001

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):

	PN


CUSIP No.		464192103		Page		4		of		8


1	NAMES OF REPORTING PERSONS: PAR Capital Management, Inc.

	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
	(a) o
	(b) þ

3	SEC USE ONLY:



4	CITIZENSHIP OR PLACE OF ORGANIZATION:

	State of Delaware

		5	SOLE VOTING POWER:

NUMBER OF			841,900 COMMON STOCK, par value $.0001

SHARES		6	SHARED VOTING POWER:
BENEFICIALLY
OWNED BY			None

EACH		7	SOLE DISPOSITIVE POWER:
REPORTING
PERSON			841,900 COMMON STOCK, par value $.0001

WITH:		8	SHARED DISPOSITIVE POWER:

			None

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

	841,900 COMMON STOCK, par value $.0001

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):

	6.85% COMMON STOCK, par value $.0001

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):

	CO

STATEMENT ON SCHEDULE 13G


Item 1(a).		Name of Issuer:

		I.C. Isaacs & Company, Incorporated

Item 1(b).		Address of Issuer’s Principal Executive Offices:

		475 10^th Avenue
		9^th Floor
		New York, NY 10018

Item 2(a).		Names of Person Filing:

		PAR Investment Partners, L.P.
		PAR Group, L.P.
		PAR Capital Management, Inc.

Item 2(b).		Business Mailing Address for the Person Filing:

		PAR Capital Management, Inc.
		One International Place, Suite 2401
		Boston, MA 02110

Item 2(c).		Citizenship:

		State of Delaware

Item 2(d).		Title of Class of Securities:

		COMMON STOCK, PAR VALUE $.0001

Item 2(e).		CUSIP Number:

		464192103

Item 3.		If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b), check whether the person filing is a:

		Not Applicable

Item 4.		Ownership:

(a)

Amount Beneficially Owned:

841,900 COMMON STOCK, PAR VALUE $.0001

(b)

Percent of Class:

6.85% COMMON STOCK

(c)

Number of shares as to which such person has:

(i)

841,900 COMMON STOCK, PAR VALUE $.0001

Page 5 of 8

	(ii)		shared power to vote or to direct the vote:

	(iii)		sole power to dispose or to direct the disposition of: 841,900 COMMON STOCK, PAR VALUE $.0001

	(iv)		shared power to dispose or to direct the disposition of:


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.

Page 6 of 8

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.

Dated: May 18, 2007


		PAR INVESTMENT PARTNERS, L.P.
		By:		PAR GROUP, L.P.
				its general partner
		By:		PAR CAPITAL MANAGEMENT, INC.
				its general partner

		By:		/s/ Gina DiMento

				Gina DiMento, Vice President

		PAR GROUP, L.P.
		By:		PAR CAPITAL MANAGEMENT, INC.
				its general partner

		By:		/s/ Gina DiMento

				Gina DiMento, Vice President

		PAR CAPITAL MANAGEMENT, INC.

		By:		/s/ Gina DiMento

				Gina DiMento, Vice President

Page 7 of 8

EX-99 2 y35087gexv99.htm EX-99: JOINT FILING AGREEMENT EX-99

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the COMMON STOCK, PAR VALUE $.0001 of I.C. Isaacs & Company, Incorporated and further agree that this agreement be included as an exhibit to such filing. Each party to the agreement expressly authorizes each other party to file on its behalf any and all amendments to such statement. Each party to this agreement agrees that this joint filing agreement may be signed in counterparts.

In evidence whereof, the undersigned have caused this Agreement to be executed on their behalf this 18^th day of May, 2007.


		PAR INVESTMENT PARTNERS, L.P.
		By:		PAR GROUP, L.P.
				its general partner
		By:		PAR CAPITAL MANAGEMENT, INC.
				its general partner

		By:		/s/ Gina DiMento

				Gina DiMento, Vice President

		PAR GROUP, L.P.
		By:		PAR CAPITAL MANAGEMENT, INC.
				its general partner

		By:		/s/ Gina DiMento

				Gina DiMento, Vice President

		PAR CAPITAL MANAGEMENT, INC.

		By:		/s/ Gina DiMento

				Gina DiMento, Vice President

Page 8 of 8