8-K

 
                       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)       October 16, 1997
                                                 ------------------------------



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


Delaware                            1-13099                      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
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                                 Not applicable
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         (Former name or former address, if changed since last report)

 
ITEM 5. OTHER EVENTS.
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          On October 16, 1997, the registrant issued a press release announcing
the completion of the sale of $100.0 million of 9 1/4% Senior Subordinated Notes
due 2007 to qualified institutional buyers. A copy of the press release is filed
herewith as Exhibit 99.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.
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         (a) Financial Statements:  None

         (b) Pro Forma Financial Information:  None

         (c) Exhibits:

         99 - Press Release of the Registrant, dated October 16, 1997.

                                      -2-

 
                                   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: October 16, 1997
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                                      -3-

EX-99

 
                                                                      EXHIBIT 99

 
             THE MAXIM GROUP, INC. ANNOUNCES COMPLETION OF SENIOR 
                          SUBORDINATED NOTES OFFERING


For immediate release: October 16, 1997

Contact:

  Thomas P. Leahey
  Executive Vice President, Finance & Treasurer
  The Maxim Group, Inc.
  (770) 590-9369


Kennesaw, Georgia -- The Maxim Group, Inc.  (NYSE:MXG) announced today that it
has completed the sale of $100.0 million of 9 1/4% Senior Subordinated Notes due
2007 (the "Notes") to qualified institutional buyers pursuant to Rule 144A under
the Securities Act of 1933, as amended.  The Notes, which are rated B2 and B by
Moody's and Standard and Poor's, respectively, were priced at 99.295% of their
principal amounts. Proceeds from the offering will be used to repay all of the
Company's outstanding bank indebtedness and for general corporate purposes,
including working capital to fund the Company's retail expansion and for
potential acquisitions.

Merrill Lynch & Co. was the lead-manager and First Union Capital Markets Corp.
and Wheat First Butcher Singer were co-managers of the offering.  The Notes
offered have not been registered under the Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent such registration or
an applicable exemption from the registration requirements.

The Maxim Group operates and franchises one of the largest retail floorcovering
distribution networks in North America through two retail floorcovering
concepts: CarpetMAX(R), a full-service floorcovering store format, and Georgia
Carpet Outlets  ("GCO(R)"), a cash-and-carry discount floorcovering store
format.  In addition, the Company, through its subsidiary, Image Industries,
Inc., is one of the largest manufacturers of polyester carpeting in the United
States.