-----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, UW+iTfjaKRm2xOfWvhbu5aNCDFthV8hrSgCBBlj09Miy82qXd6vCT1kvEVkYWSTd 1mhIjAqI82xmUMMTdR0bOQ== 0000893877-00-000126.txt : 20000228 0000893877-00-000126.hdr.sgml : 20000228 ACCESSION NUMBER: 0000893877-00-000126 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000225 GROUP MEMBERS: HAREDALE, LTD. GROUP MEMBERS: JAMES HENRY HILDEBRANDT GROUP MEMBERS: NIERENBERG DAVID GROUP MEMBERS: THE NIERENBERG FAMILY 1993 TRUST GROUP MEMBERS: TOXFORD CORPORATION SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ELDER BEERMAN STORES CORP CENTRAL INDEX KEY: 0000032020 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DEPARTMENT STORES [5311] IRS NUMBER: 310271980 STATE OF INCORPORATION: OH FISCAL YEAR END: 0201 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-53669 FILM NUMBER: 553333 BUSINESS ADDRESS: STREET 1: 3155 ELBEE RD CITY: DAYTON STATE: OH ZIP: 45439 BUSINESS PHONE: 9372962700 MAIL ADDRESS: STREET 1: 3155 EL BEE ROAD CITY: DAYTON STATE: OH ZIP: 45439 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NIERENBERG DAVID CENTRAL INDEX KEY: 0001040899 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 19605 N E 8TH STREET CITY: CAMAS STATE: WA ZIP: 98607 BUSINESS PHONE: 3606048600 SC 13D/A 1 SCHEDULE 13D, AMENDMENT NO. 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. _1__)* THE ELDER-BEERMAN STORES CORP. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON - -------------------------------------------------------------------------------- (Title of Class of Securities) 284 470-10-1 ------------------------------ (CUSIP Number) David Nierenberg, The D3 Family Fund, 19605 NE 8th St., Camas, WA 98607 360-604-8600 ------------------------------------------------------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) 2/24/00 ------------------------------- (Date of Event which Requires Filing of this Statement) *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). 1 of 11 SCHEDULE 13D ------------ CUSIP No. 284 470-10-1 Page 2 of 11 - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The D3 Family Fund, L.P. (David Nierenberg is President of the General Partner, which is Nierenberg Investment Management Company.) - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC USE ONLY _____________________________________________________________ - -------------------------------------------------------------------------------- 4) SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION Washington - -------------------------------------------------------------------------------- 7) SOLE VOTING POWER 820,500 common shares (5.5%) NUMBER ------------------------------------------------------ OF 8) SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED ------------------------------------------------------ BY 9) SOLE DISPOSITIVE POWER EACH REPORTING 820,500 PERSON ------------------------------------------------------ WITH: 10) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON Aggregate amount owned is 900,000 shares (6.0%) - -------------------------------------------------------------------------------- 12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.0% - -------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- SCHEDULE 13D ------------ CUSIP No. 284 470-10-1 Page 3 of 11 - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Haredale, Ltd. - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC USE ONLY _____________________________________________________________ - -------------------------------------------------------------------------------- 4) SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION The Bahamas - -------------------------------------------------------------------------------- 7) SOLE VOTING POWER 20,000 common shares (0.1%) NUMBER ------------------------------------------------------ OF 8) SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED ------------------------------------------------------ BY 9) SOLE DISPOSITIVE POWER EACH REPORTING 20,000 PERSON ------------------------------------------------------ WITH: 10) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON Aggregate amount owned is 900,000 shares (6.0%) - -------------------------------------------------------------------------------- 12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.0% - -------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- SCHEDULE 13D ------------ CUSIP No. 284 470-10-1 Page 4 of 11 - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON James Henry Hildebrandt - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC USE ONLY _____________________________________________________________ - -------------------------------------------------------------------------------- 4) SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION Canada - -------------------------------------------------------------------------------- 7) SOLE VOTING POWER 6,500 common shares (0.0%) NUMBER ------------------------------------------------------ OF 8) SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED ------------------------------------------------------ BY 9) SOLE DISPOSITIVE POWER EACH REPORTING 6,500 PERSON ------------------------------------------------------ WITH: 10) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON Aggregate amount owned is 900,000 shares (6.0%) - -------------------------------------------------------------------------------- 12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.0% - -------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- SCHEDULE 13D ------------ CUSIP No. 284 470-10-1 Page 5 of 11 - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Toxford Corporation - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC USE ONLY _____________________________________________________________ - -------------------------------------------------------------------------------- 4) SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION Channel Islands, British Isles - -------------------------------------------------------------------------------- 7) SOLE VOTING POWER 3,000 common shares (0.0%) NUMBER ------------------------------------------------------ OF 8) SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED ------------------------------------------------------ BY 9) SOLE DISPOSITIVE POWER EACH REPORTING 3,000 PERSON ------------------------------------------------------ WITH: 10) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON Aggregate amount owned is 900,000 shares (6.0%) - -------------------------------------------------------------------------------- 12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.0% - -------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- SCHEDULE 13D ------------ CUSIP No. 284 470-10-1 Page 6 of 11 - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Nierenberg Family 1993 Trust - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC USE ONLY _____________________________________________________________ - -------------------------------------------------------------------------------- 4) SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION Washington - -------------------------------------------------------------------------------- 7) SOLE VOTING POWER 50,000 common shares (0.3%) SHARES ------------------------------------------------------ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 ------------------------------------------------------ EACH 9) SOLE DISPOSITIVE POWER REPORTING 50,000 PERSON ------------------------------------------------------ WITH 10) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON Aggregate amount owned is 900,000 shares (6.0%) - -------------------------------------------------------------------------------- 12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.0% - -------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- Page 7 of 11 Item 1. Security and Issuer Common stock of The Elder-Beerman Stores Corp. (EBSC), 3155 El-Bee Road, Dayton, Ohio 45439. Item 2. Identity and Background The D3 Family Fund, L.P., a Washington State partnership, whose principal business is investing in the equities of undervalued public micro-cap companies. Located at 19605 N.E. 8th St., Camas, Washington 98607. No convictions or administrative proceedings as described in Item 2(d) and (e). Item 3. Source and Amount of Funds or Other Consideration Source of funds is money invested in the partnership by its limited partners. Aggregate amount invested in EBSC shares purchased by the partnership is $4,787,989. Item 4. Purpose of Transaction D3 has reviewed carefully the amended Form 13D filing made on February 24, 2000 by PPM America. D3 is in substantial, though not complete, agreement with PPM's latest requests. Our sole disagreement with PPM is that we no longer advocate the immediate sale of EB as our primary objective because an immediate sale might not produce the best possible valuation. We would prefer, instead, to see EB's Board of Directors quickly replace EB's CEO, COO and CFO with executives more likely to restore and build shareholder value. As PPM's new filing demonstrates, these three executives no longer enjoy the support of EB's largest share- holders. Keeping them in place against the will of the company's prinicipal owners virtually holds the company hostage, a situation the outside directors should not risk. If EB's outside directors do not quickly replace management, D3 will vote its shares against management's nominees for the board at the next, and at future, annual meetings. And, without collaborating with other shareholders, we would urge all shareholders to exercise their legal and constitutional rights the same way. We would study with considerable interest any proxy from PPM or from other shareholders proposing a more shareholder-oriented slate of directors. D3 supports efforts to accelerate and complete EB's stalled share repurchase program. With the shares falling to only 1/3 of book value, EB;s foot-dragging is unacceptable. Only if efforts to change EB's senior management and board were to fail would D3 support the immediate auction of EB. Immediate sale, however disappointing, would be preferable to continued stagnation. Item 5. Interest in Securities of the Issuer (a,b) D3 owns, and has sole voting and dispositive power over, 820,500 common shares of EBSC (5.5%). In addition, 29,500 more common shares of EBSC are owned by three foreign investors whose funds are managed by Mr. Nierenberg: Haredale, a Bahamian corporation which owns 20,000 shares; James Henry Hildebrandt, a Canadian citizen who owns 6,500 shares; and Toxford Corporation, a Channel Islands corporation which owns 3,000 shares. In addition, The Nierenberg Family 1993 Trust, of which Mr. Nierenberg is trustee, owns 50,000 EBSC shares. (c) D3's transactions in the last 60 days were: # of Date Shares Purchased Source Share Price ---- ---------------- ------ ----------- 2/17/00 45,000 McDonald & Co. 4.625 2/24/00 10,000 McDonald & Co. 5.0625 (d) N/A (e) N/A Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer N/A for D3. Item 7. Material to be Filed as Exhibits N/A 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. February 25, 2000 DAVID NIERENBERG - ----------------- ----------------------------------------- Date David Nierenberg President Nierenberg Investment Management Company, Inc., the General Partner Of The D3 Family Fund, L.P. Page 8 of 11 Item 1. Security and Issuer Common stock of The Elder-Beerman Stores Corp. (EBSC), 3155 El-Bee Road, Dayton, Ohio 45439. Item 2. Identity and Background (a) Haredale Ltd., a Bahamian corporation. (b) P.O. Box N-4465, Nassau, New Providence, The Bahamas. (c) Haredale is in the investment business at the address above. (d) None (e) None (f) The Bahamas. Item 3. Source and Amount of Funds or Other Consideration Haredale owns, and Mr. Nierenberg has sole voting and dispositive power over, its 20,000 shares. Item 4. Purpose of Transaction Same as Item 4 on Page 7. Item 5. Interest in Securities of the Issuer (a,b) Haredale owns, and Mr. Nierenberg has sole voting and dispositive power over, its 20,000 shares. (c) None (d) N/A (e) N/A Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Haredale pays Mr. Nierenberg an annual management fee and a share of its net profits for his personal management of its accounts. Item 7. Material to be Filed as Exhibits N/A 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. February 25, 2000 DAVID NIERENBERG - ----------------- ----------------------------------------- Date David Nierenberg Authorized to trade for Haredale, Ltd. Page 9 of 11 Item 1. Security and Issuer Common stock of The Elder-Beerman Stores Corp. (EBSC), 3155 El-Bee Road, Dayton, Ohio 45439. Item 2. Identity and Background (a) James Henry Hildebrandt, an individual who is a citizen of Canada, resident in Hong Kong. (b) c/o Bain & Company, 33rd Floor The Center, 99 Queen's Road Central Hong Kong. (c) Mr. Hildebrandt is in the management consulting business. (d) None (e) None (f) Canada Item 3. Source and Amount of Funds or Other Consideration Mr. Hildebrandt owns, and Mr. Nierenberg has sole voting and dispositive power over, his 6,500 shares. Item 4. Purpose of Transaction Same as Item 4 on Page 7. Item 5. Interest in Securities of the Issuer (a,b) Mr. Hildebrandt owns, and Mr. Nierenberg has sole voting and dispositive power over, his 6,500 shares. (c) None (d) N/A (e) N/A Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Mr. Hildebrandt pays Mr. Nierenberg an annual management fee and a share of its net profits for his personal management of its accounts. Item 7. Material to be Filed as Exhibits N/A 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. February 25, 2000 DAVID NIERENBERG - ----------------- ----------------------------------------- Date David Nierenberg Authorized to trade for John Henry Hildebrandt Page 10 of 11 Item 1. Security and Issuer Common stock of The Elder-Beerman Stores Corp. (EBSC), 3155 El-Bee Road, Dayton, Ohio 45439. Item 2. Identity and Background (a) Toxford Corporation, a Channel Islands corporation. (b) P.O. Box 3048, St. Andrews House, Le Bordage, St. Peter Port, Guernsey, Channel Islands, British Isles. (c) Toxford Corporation is in the investment business at the address above. (d) None (e) None (f) Channel Islands, British Isles. Item 3. Source and Amount of Funds or Other Consideration Toxford Corporation owns, and Mr. Nierenberg has sole voting and dispositive power over, its 3,000 shares. Item 4. Purpose of Transaction Same as Item 4 on Page 7. Item 5. Interest in Securities of the Issuer (a,b) Toxford Corporation owns, and Mr. Nierenberg has sole voting and dispositive power over, its 3,000 shares. (c) None (d) N/A (e) N/A Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Toxford Corporation pays Mr. Nierenberg an annual management fee and a share of its net profits for his personal management of its accounts. Item 7. Material to be Filed as Exhibits N/A 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. February 25, 2000 DAVID NIERENBERG - ----------------- ----------------------------------------- Date David Nierenberg Authorized to trade for Toxford Corporation Page 11 of 11 Item 1. Security and Issuer Common stock of The Elder-Beerman Stores Corp. (EBSC), 3155 El-Bee Road, Dayton, Ohio 45439. Item 2. Identity and Background (a) The Nierenberg Family 1993 Trust, a revocable trust. (b) 19605 N.E. 8th Street, Camas, Washington 98607 (c) A Trust (d) None (e) None (f) United States Item 3. Source and Amount of Funds or Other Consideration Shares were purchased using bank borrowings. Item 4. Purpose of Transaction Same as Item 4 on Page 7. Item 5. Interest in Securities of the Issuer (a,b) The Nierenberg Family 1993 Trust owns, and Mr. Nierenberg has sole voting and dispositive power over, its 50,000 shares. (c) None (d) N/A (e) N/A Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer N/A Item 7. Material to be Filed as Exhibits N/A 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. February 25, 2000 DAVID NIERENBERG - ----------------- ----------------------------------------- Date David Nierenberg Authorized to trade for The Nierenberg Family 1993 Trust -----END PRIVACY-ENHANCED MESSAGE-----