SECURITIES AND EXCHANGE COMMISSION

                                Washington, D.C. 20549

                                       FORM 8-K

                                    CURRENT REPORT

      Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934


Date of Report (Date of earliest event reported)     August 30, 1996
                                                 _________________________



                                The Maxim Group, Inc.
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                (Exact name of registrant as specified in its charter)


Delaware                               0-22232                 58-2060334
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(State or other jurisdiction    (Commission File Number)    (IRS Employer
of incorporation)                                          Identification No.)


210 TownPark Drive, Kennesaw, Georgia                                      30144
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(Address of principal executive offices)                           (Zip Code)


Registrant's telephone number, including area code    (770) 590-9369
                                                   ___________________________


                                    Not applicable
________________________________________________________________________________
            (Former name or former address, if changed since last report)



ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.

    On August 30, 1996, The Maxim Group, Inc., a Delaware corporation 
("Maxim") consummated the acquisition of Image Industries Inc., a Delaware 
corporation ("Image").  Pursuant to the Agreement and Plan of Reorganization, 
dated May 31, 1996, Image was merged with a wholly-owned subsidiary of Maxim. 
The transaction was consummated in a one for one exchange of the common 
stock of Maxim  for the issued and outstanding common stock of Image.  In 
connection therewith, an aggregate of 5,267,385 shares of Maxim Common Stock 
were issued to the shareholders of Image.  In addition, options to purchase an 
aggregate of 932,615 shares of Maxim Common Stock were granted in exchange 
for a like number of options to purchase Image Common Stock.  The transaction 
is valued at approximately  $91.5 million, based on Image Industries' issued 
and outstanding common stock (on a fully diluted basis) and Maxim's closing 
price on August 29, 1996 on The Nasdaq National Market.

    Based in the Atlanta suburb of Kennesaw,  Maxim is a leading retailer of
floor covering and the industry's only publicly traded franchisor.  Maxim has
approximately 700 retail locations including 75 company owned stores.  Maxim
provides its network with advertising, training, merchandising services as well
as consultation in administration.  Maxim also provides floor covering products
directly from the industry's manufacturers.

    Image  is a leading plastic recycler and carpet manufacturer.  Image
produces residential carpet, polyester fiber, PET flake and pellets made from
recycled post consumer PET (Polyethylene terephthalate) and is vertically
integrated from the purchase of curbside collected bottles through complete
manufacturing of polyester fiber, PET flake and carpet products.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

    (a)  Financial Statements of Business Acquired:

    At the present time, it is impractical to provide the required financial
statements for Image as required by this Item 7 of Form 8-K.  Maxim will file
such required financial statements under cover of Form 8-K/A as soon as
practicable, but not later than November 15, 1996 (60 days after this Report is
required to be filed).

    (b)  Pro Forma Financial Information:

    At the present time, it is impractical to provide the pro forma financial
information relative to the Image acquisition as required by Article 11 of
Regulation S-X and this Item 7 of Form 8-K.  Maxim will file such pro forma
financial information under cover of Form 8-K/A as soon as practicable, but not
later than November 15, 1996 (60 days after this Report is required to be
filed).

    (c)  Exhibits:

    2.1- Agreement and Plan of Reorganization, dated as of May 31, 1996, by and
         among The Maxim Group, Inc., TMG-II Merger, Inc., and Image
         Industries, Inc. (incorporated by reference from Form 8-K of Maxim
         dated May 31, 1996)

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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.

                                  THE MAXIM GROUP, INC.



                                  By: /s/ A.J. Nassar
                                       ---------------------------------------
                                       A.J. Nassar 
                                       President and Chief Executive Officer

Dated: September 3, 1996
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