-----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, SbB0VxaaWgOmwsVBPnjd/AnaSSiaP7QYCAkvFN6FcD2ceXgAjysCuT0jYqJ1vbIW L8WS2MyBjnMSldwOkiUmYw== 0000085149-00-000007.txt : 20000515 0000085149-00-000007.hdr.sgml : 20000515 ACCESSION NUMBER: 0000085149-00-000007 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000501 ITEM INFORMATION: FILED AS OF DATE: 20000512 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEBFINANCIAL CORP CENTRAL INDEX KEY: 0000085149 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-VARIETY STORES [5331] IRS NUMBER: 562043000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 000-00631 FILM NUMBER: 629991 BUSINESS ADDRESS: STREET 1: 150 EAST 52ND STREET 21ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2128131500 MAIL ADDRESS: STREET 1: 150 EAST 52ND ST STREET 2: 21ST FL CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: ROSES HOLDINGS INC DATE OF NAME CHANGE: 19970826 FORMER COMPANY: FORMER CONFORMED NAME: ROSES STORES INC DATE OF NAME CHANGE: 19920703 8-K/A 1 ACCOUNTANT'S LETTER FOR PREVIOUSLY FILED 8-K Current Report on Form 8-K/A SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 --------------------- FORM 8-K Amendment No. 1 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 1, 2000 WEBFINANCIAL CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 0-631 56-2043000 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 150 East 52nd Street, 21st Floor New York, New York 10022 -------------------------------------- Address of principal executive offices Registrant's telephone number, including area code: 877/431-2942 ------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT (a) Previous independent accountants (i) On May 1, 2000, WebFinancial Corporation (the "Company") dismissed KPMG LLP ("KPMG"), as its independent accountants. (ii) The audit reports of KPMG on the consolidated financial statements of WebFinancial Corporation as of December 31, 1999 and 1998, and for the year ended December 31, 1999, the eleven-month period ended December 31, 1998, and the year ended January 31, 1998 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. (iii) The Registrant's Board of Directors participated in and approved the decision to change independent accountants. (iv) In connection with the audits of the Company's consolidated financial statements for each of the two fiscal years ended December 31, 1999 and 1998, and in the subsequent interim period through May 1, 2000 there were no "disagreements," as that term is defined in the instructions to Form 8-K and the regulations applicable to Item 4 of Form 8-K, with KPMG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which "disagreements," if not resolved to their satisfaction would have caused them to make reference in connection with their opinion to the subject matter of the "disagreement" in their report. (v) The Registrant has requested that KPMG furnish it with a letter addressed to the SEC stating whether or not it agrees with the above statements. A letter from KPMG concerning its agreement or disagreement with the disclosures made in this Report on Form 8-K will be filed as required by Item 304(a)(3) of Regulation S-K promptly upon receipt by the Company. (b) New independent accountants The Registrant engaged Grant Thornton LLP as the Company's auditors on May 4, 2000. The Registrant has not consulted with Grant Thornton LLP during the past two fiscal years concerning the application of accounting principles or any issues relating to accounting, auditing or financial reporting. Item 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits Exhibit 16: Letter from KPMG LLP dated May 4, 2000 and received May 8, 2000. SIGNATURE 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. WEBFINANCIAL CORPORATION Dated: May 12, 2000 By: /s/ Warren G. Lichtenstein -------------------------- Name: Warren G. Lichtenstein Title: Chairman of the Board and Chief Executive Officer EX-16 2 LETTER RE: CHANGE IN CERTIFYING ACCOUNTANTS Exhibit 16 (Letterhead of KPMG LLP) May 4, 2000 Securities and Exchange Commission Washington, D.C. 20549 Ladies and Gentlemen: We were previously principal accountants for WebFinancial Corporation and, under the date of March 24, 2000, we reported on the consolidated financial statements of WebFinancial Corporation and subsidiaries as of and for the years ended December 31, 1999 and 1998. On May 1, 2000, our appointment as principal accountants was terminated. We have read WebFinancial Corporation's statements included under Item 4(a) of its Form 8-K dated May 4, 2000, and we agree with such statements, except that we are not in a position to agree or disagree with WebFinancial Corporation's reference to the Board of Directors participating in and approving the decision to change independent auditors. Very truly yours, /s/ KPMG LLP -----END PRIVACY-ENHANCED MESSAGE-----