-----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, V0ahpFMAwAAzIQcBRknB/OqLOcoguax5Gjz1dweDc1JfURZkGH4b5VHljid4+tuy 7ZTOROpvC4fqklToIl6ang== 0000950117-04-000477.txt : 20040130 0000950117-04-000477.hdr.sgml : 20040130 20040130170415 ACCESSION NUMBER: 0000950117-04-000477 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040130 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: G&G RETAIL INC CENTRAL INDEX KEY: 0001088811 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-WOMEN'S CLOTHING STORES [5621] STATE OF INCORPORATION: DE FISCAL YEAR END: 0129 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-81307 FILM NUMBER: 04556651 BUSINESS ADDRESS: STREET 1: 520 EIGHTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 2122794961 8-K 1 a36971.txt G+G RETAIL, INC. 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): January 30, 2004 G+G RETAIL, INC. (Exact Name of Registrant as Specified in Charter) Delaware 333-81307 22-3596083 - ------------------------------------------------------------------------------------------------------------ (State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer Identification Incorporation) Number) 520 Eighth Avenue, New York, New York 10018 - ------------------------------------------------------------------------------------------------------------ (Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 279-4961 -------------- Item 5. Other Events and Regulation FD Disclosure. On January 30, 2004, G+G Retail, Inc. issued a press release, a copy of which is attached to this report as Exhibit 99.1. Exhibit 99.1 is incorporated herein by this reference. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits
Exhibits Description -------- -------------------------------------------------------- 99.1 Press Release of G+G Retail, Inc. dated January 30, 2004
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 hereunto duly authorized. G+G RETAIL, INC. Date: January 30, 2004 By: /s/ Scott Galin ---------------------------------- Scott Galin, President and Chief Operating Officer 2 Exhibit Index
Exhibits Description -------- -------------------------------------------------------- 99.1 Press Release of G+G Retail, Inc. dated January 30, 2004
EX-99 3 ex99-1.txt EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE NEW YORK, NY - January 30, 2004 - G+G Retail, Inc. (the "Company") announced today that an agreement in principle had been reached among the holders of over 99% of the Company's 11% Senior Notes ("Notes") and affiliates of Pegasus Investors L.P., holders of a majority of the outstanding voting Common Stock and Preferred Stock of the Company's parent, G&G Retail Holdings, Inc. ("G&G Holdings"), to restructure the Company's outstanding Notes and the capital stock of G&G Holdings. The proposed arrangements contemplate the exchange of the Notes and the outstanding Preferred Stock of G&G Holdings for new common stock of the Company and the replacement of the Company's existing revolving credit facility with a $50 million senior secured facility to be provided or arranged for by Ableco Finance LLC. The contemplated recapitalization and restructuring is subject to mutually acceptable definitive agreements. The transaction is expected to close before the end of March 2004. Scott Galin, the Company's President and Chief Operating Officer, stated that he and Jay Galin, the Company's Chairman and Chief Executive Officer, supported the proposed restructuring, indicating that the complete elimination of the Company's long term debt, the significant reduction of the Company's ongoing debt service obligations and the new revolving credit facility would greatly strengthen the Company's liquidity and cash position and its ability to grow the business. The Company is a leading national mall-based retailer of popular price female junior and pre-teen apparel with approximately 585 stores, principally located in major enclosed regional shopping malls throughout the United States, Puerto Rico, and the U.S. Virgin Islands under the Rave, G+G, Rave Girl and Authentica names. Contact: Michael Kaplan, Chief Financial Officer G+G Retail, Inc. (212) 279-4961. -----END PRIVACY-ENHANCED MESSAGE-----