SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


                                  SCHEDULE 13G


            Information Statement Pursuant to Rules 13d-1 and 13d-2
                   Under the Securities Exchange Act of 1934
                               (Amendment No. 4)*

                         Chock Full O' Nuts Corporation
                                (Name of Issuer)

                     Common Stock, Par Value $.25 Per Share
                         (Title of Class of Securities)

                                   170268106
                                 (CUSIP Number)


Check the following box if a fee is being paid with the 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 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).


1.   Name of Reporting Person:

     HBK Finance L.P. 
                                                                                
2.   Check the Appropriate Box if a Member of a Group:
                                                        (a) / /

                                                        (b) /X/
                                                                                
3.   SEC Use Only
                                                                                

4.   Citizenship or Place of Organization: Delaware
                                                                                

               5.   Sole Voting Power: 835,482 (1)(2)
Number of                                                                       
Shares
Beneficially   6.   Shared Voting Power: -0-
Owned By                                                                        
Each
Reporting      7.   Sole Dispositive Power: 835,482 (1)(2)
Person                                                                          
With
               8.   Shared Dispositive Power: -0-
                                                                                
9.   Aggregate Amount Beneficially Owned by Each Reporting Person:

     835,482 (2)
                                                                                
10.  Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:
                                                            / /
                                                                                

11.  Percent of Class Represented by Amount in Row (9): 7.2% (3)
                                                                                

12.  Type of Reporting Person: BD
                                                                                
- --------------

(1)  Power is exercised by its general partner, HBK Fund L.P., whose general
     partner is HBK Capital L.P., whose general partner is HBK Partners I
     L.P., whose general partner is HBK Management L.L.C.

(2)  Assumes conversion of $6,876,000 principal amount of the Issuer's 7%
     Convertible Senior Subordinated Debentures due April 1, 2012 (the
     "Debentures"), into 835,482 shares of Common Stock.

(3)  Assumes, pursuant to Rule 13d-3(d)(1)(i) under the Act, that there
     are 10,735,546 shares of Common Stock outstanding, which number includes
     shares of Common Stock that may be acquired by the Reporting Person upon
          conversion of the Debentures.

     Pursuant to Rule 13d-2(a) of Regulation 13D-G of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the
"Act"), the undersigned hereby amends its Schedule 13G Statement dated
February 13, 1994, as amended by Amendment No. 1 dated February 13, 1995,
Amendment No. 2  dated April 9, 1995, and Amendment No. 3 dated February 9,
1996 (the "Schedule 13G"), relating to the Common Stock, par value $0.25 per
share, of Chock Full O' Nuts Corporation.  Unless otherwise indicated, all
defined terms used herein shall have the same meanings as those set forth in
the Schedule 13G.  Pursuant to Item 101(a)(2)(ii) of Regulation S-T, this
filing restates in its entirety the Reporting Person's (as hereinafter
defined) Schedule 13G with respect to Chock Full O' Nuts Corporation.

Item 1(a).     Name of Issuer.

     Item 1(a) is hereby restated in its entirety as follows:

     The name of the issuer is Chock Full O' Nuts Corporation (the "Issuer").

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

     Item 1(b) is hereby restated in its entirety as follows:

     The principal executive offices of the Issuer are located at 370
Lexington Avenue, New York, New York  10017.

Item 2(a).     Names of Persons Filing.

     Item 2(a) is hereby amended and restated in its entirety as follows:

     This Schedule 13G Statement is hereby filed by HBK Finance L.P., a
Delaware limited partnership (the "Reporting Person").  Additionally,
pursuant to Instruction C to Schedule 13D, information is included herein
with respect to the following persons (collectively, the "Controlling
Persons"):  HBK Fund L.P., a Delaware limited partnership ("Fund"), HBK
Capital L.P., a Delaware limited partnership ("Capital"), HBK Partners I
L.P., a Delaware limited partnership ("Partners I"), HBK Management L.L.C.,
a Delaware limited liability company ("Management") and each of the following
individuals who may control Management (collectively, the "Managers"): Harlan
B. Korenvaes, Kenneth M. Hirsh, Laurence H. Lebowitz, William E. Rose, and
Richard L. Booth, Jr.  The Reporting Person and the Controlling Persons are
sometimes hereinafter collectively referred to as the "Item 2 Persons."

Item 2(b).     Address of Principal Business Office, or if None, Residence.

     Item 2(b) is hereby amended and restated in its entirety as follows:

     The principal business office for each of the Item 2 Persons is 777 Main
Street, Suite 2750, Fort Worth, Texas  76102.

Item 2(c).     Citizenship.

     Item 2(c) is hereby amended and restated in its entirety as follows:

     All of the natural persons listed in Item 2(a) are citizens of the
United States of America.

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

     Item 2(d) is hereby restated in its entirety as follows:

     This Schedule 13G statement relates to the common stock, par value $.25
per share, of the Issuer (the "Common Stock").

Item 2(e).     CUSIP Number.  

     Item 2(e) is hereby restated in its entirety as follows:

     The CUSIP number of the Common Stock is 170268106.

Item 3.   Filing Pursuant to Rules 13d-1(b) or 13d-2(b).  

     Item 3 is hereby restated in its entirety as follows:

     This Schedule 13G Statement is  being filed pursuant to Rule 13d-1(b)
under the Act because the Reporting Person is a Broker or Dealer registered
under Section 15 of the Act.

Item 4.   Ownership.

     Item 4 is hereby amended and restated in its entirety as follows:

     (a) - (b)

     Reporting Person

     The aggregate number of shares of the Common Stock that the Reporting
Person owns beneficially, pursuant to Rule 13d-3 of the Act, is 835,482,
which constitutes approximately 7.2% of the 10,735,546 shares of the Common
Stock deemed outstanding pursuant to Rule 13d-3(d)(1)(i).

     Controlling Persons

     Each of (1) Fund, as sole general partner of the Reporting Person, (2)
Capital, as sole general partner of Fund, (3) Partners I, as sole general
partner of Capital, (4) Management, as sole general partner of Partners I 
and (5) the Managers, as controlling persons of Management, may, pursuant to
Rule 13d-3 under the Act, be deemed to be the beneficial owner of 835,482
shares of the Common Stock, which constitutes approximately 7.2% of the
10,735,546 shares of the Common Stock deemed outstanding pursuant to Rule
13d-3(d)(1)(i).

     To the best of the knowledge of each of the Reporting Persons, other
than as set forth above, none of the persons named in Item 2 herein is the
beneficial owner of any shares of the Stock.

     (c)

     None of the Item 2 Persons has any power to vote or to direct the vote
or to dispose or to direct the disposition of any shares of Common Stock.

Item 5.   Ownership of Five Percent or Less of a Class.

     Item 5 is hereby restated in its entirety as follows:

     Not applicable.

Item 6.   Ownership of More than Five Percent on Behalf of Another Person.

     Item 6 is hereby restated in its entirety as follows:

     Not applicable.

Item 7.   Identification and Classification of the Subsidiary Which Acquired
          the Security Being Reported on By the Parent Holding Company.

     Item 7 is hereby restated in its entirety as follows:

     Not applicable.

Item 8.   Identification and Classification of Members of the Group.

     Item 8 is hereby restated in its entirety as follows:

     Not applicable.

Item 9.   Notice of Dissolution of Group.

     Item 9 is hereby restated in its entirety as follows:

     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 acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the Issuer of such securities and
were not acquired in connection with or as a participant in any transaction
having such purpose or effect.



     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:     September 19, 1996



                              HBK FINANCE L.P.


                              By: /s/ H. Michael Reese         
                                     H. Michael Reese (1)


(1)  An Authorization Certificate authorizing H. Michael Reese to act on
     behalf of HBK Finance L.P. previously has been filed with the Securities
     and Exchange Commission.