0001144204-11-014631.txt : 20110314 0001144204-11-014631.hdr.sgml : 20110314 20110314170125 ACCESSION NUMBER: 0001144204-11-014631 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110308 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110314 DATE AS OF CHANGE: 20110314 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SYMS CORP CENTRAL INDEX KEY: 0000724742 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FAMILY CLOTHING STORES [5651] IRS NUMBER: 222465228 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08546 FILM NUMBER: 11686155 BUSINESS ADDRESS: STREET 1: SYMS WAY CITY: SECAUCUS STATE: NJ ZIP: 07094 BUSINESS PHONE: 2019029600 MAIL ADDRESS: STREET 1: SYMS WAY CITY: SECAUCUS STATE: NJ ZIP: 07094 8-K 1 v214604_8k.htm Unassociated Document
UNITED STATES
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):        March 8, 2011
 
Syms Corp
(Exact name of registrant as specified in its charter)
         
New Jersey 
  
001-8546 
  
22-2465228 
(State or other jurisdiction 
  
(Commission 
  
(I.R.S. Employer 
of incorporation) 
  
File Number) 
  
Identification No.) 
 
One Syms Way, Secaucus, New Jersey 
      
07094 
(Address of principal executive offices) 
      
(Zip Code) 
         
Registrant’s telephone number, including area code: 
  
(201) 902-9600 

 
     Not Applicable
Former name or former address, if changed since last report
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
[   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 1.01.   Entry into a Material Definitive Agreement.

On March 8, 2011, Syms Corp and its wholly owned subsidiary, Filene’s Basement, LLC, entered into a Second Amendment to its Credit Agreement with Bank of America, N.A. dated August 27, 2009, as amended January 7, 2011 (the “Credit Agreement”).  As previously disclosed, the Credit Agreement provides for an asset-based revolving credit facility of $75,000,000.

The Second Amendment to the Credit Agreement provides for a ten million dollar ($10,000,000) short-term term loan.  The loan will mature on the earlier of (a) the date of closing of the previously announced sale of the Syms property located at 1900 Chapman Avenue, Rockville, Maryland and (b) April 30, 2011.  In obtaining the loan, the borrowers agreed to add Syms’ leasehold interest in its property located at 1 Syms Way, Secaucus, New Jersey to the collateral securing the obligations under the Credit Agreement.

The Second Amendment to the Credit Agreement contains representations and warranties customary for a credit facility of this size, type and purpose.

Item 9.01.  Financial Statements and Exhibits.

(d)           Exhibits

The Registrant shall file the above-mentioned Second Amendment to the Credit Agreement with its Annual Report on Form 10-K for the year ended February 26, 2011.

 
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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.
 
     
 
SYMS CORP
 
 
By:
/s/ Seth L. Udasin
   
Name: Seth L. Udasin 
   
Title:   Senior Vice President and
   
            Chief Financial and Administrative Officer

Dated:  March 14, 2011


 
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