SC 13D/A 1 c19320sc13dza.htm SCHEDULE 13D/A Schedule 13D/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934
(Amendment No. 11 )*

Benihana Inc.
(Name of Issuer)
Class A Common Stock
Common Stock
(Title of Class of Securities)
082047200 (Class A Common Stock)
082047101 (Common Stock)
(CUSIP Number)
Christopher Shackelton/Adam Gray
767 Third Avenue, 35th Floor
New York, NY 10017
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 24, 2011
(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

* 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).

 
 


 

                     
CUSIP No.
 
082047200 
 

 

           
1   NAMES OF REPORTING PERSONS

Coliseum Capital Management, LLC
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  AF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,847,216 (Class A Common Stock) 554,043 (Common Stock)
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    1,847,216 (Class A Common Stock) 554,043 (Common Stock)
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,847,216 (Class A Common Stock) 554,043 (Common Stock)
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  17.3% (Class A Common Stock)
9.5 %(Common Stock)
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO, IA

Page 2 of 10


 

                     
CUSIP No.
 
082047200 
 

 

           
1   NAMES OF REPORTING PERSONS

Coliseum Capital, LLC
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  AF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,054,959 (Class A Common Stock) 417,211 (Common Stock)
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    1,054,959 (Class A Common Stock) 417,211 (Common Stock)
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,054,959 (Class A Common Stock) 417,211 (Common Stock)
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  9.9% (Class A Common Stock)
7.1% (Common Stock)
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO

Page 3 of 10


 

                     
CUSIP No.
 
082047200 
 

 

           
1   NAMES OF REPORTING PERSONS

Coliseum Capital Partners, L.P.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,054,959 (Class A Common Stock) 417,211 (Common Stock)
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    1,054,959 (Class A Common Stock) 417,211 (Common Stock)
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,054,959 (Class A Common Stock) 417,211 (Common Stock)
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  9.9% (Class A Common Stock)
7.1% (Common Stock)
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

Page 4 of 10


 

                     
CUSIP No.
 
082047200 
 

 

           
1   NAMES OF REPORTING PERSONS

Blackwell Partners, LLC
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Georgia
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   792,257 (Class A Common Stock) 136,832 (Common Stock)
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    792,257 (Class A Common Stock) 136,832 (Common Stock)
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  792,257 (Class A Common Stock) 136,832 (Common Stock)
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  7.4% (Class A Common Stock)
2.3% (Common Stock)
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO

Page 5 of 10


 

                     
CUSIP No.
 
082047200 
 

 

           
1   NAMES OF REPORTING PERSONS

Adam Gray
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  AF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,847,216 (Class A Common Stock) 554,043 (Common Stock)
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    1,847,216 (Class A Common Stock) 554,043 (Common Stock)
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,847,216 (Class A Common Stock) 554,043 (Common Stock)
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  17.3% (Class A Common Stock)
9.5% (Common Stock)
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

Page 6 of 10


 

                     
CUSIP No.
 
082047200 
 

 

           
1   NAMES OF REPORTING PERSONS

Christopher Shackelton
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  AF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,847,216 (Class A Common Stock) 554,043 (Common Stock)
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    1,847,216 (Class A Common Stock) 554,043 (Common Stock)
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,847,216 (Class A Common Stock) 554,043 (Common Stock)
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  17.3% (Class A Common Stock)
9.5%(Common Stock)
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

Page 7 of 10


 

                     
CUSIP No.
 
082047200 
 
Explanatory Note: This Amendment No. 11 (this “Amendment”), to the Schedule 13D (the “Initial 13D”) filed by the Filers (as defined below in Item 2) with the U.S. Securities and Exchange Commission (the “Commission”) on February 17, 2010, as amended and supplemented by:
 
Amendment No. 1 to the Initial 13D filed on April 15, 2010;
 
 
Amendment No. 2 to the Initial 13D filed on May 26, 2010;
 
 
Amendment No. 3 to the Initial 13D filed on July 1, 2010;
 
 
Amendment No. 4 to the Initial 13D filed on July 15, 2010;
 
 
Amendment No. 5 to the Initial 13D filed on July 23, 2010;
 
 
Amendment No. 6 to the Initial 13D filed on August 2, 2010;
 
 
Amendment No. 7 to the Initial 13D filed on August 4, 2010;
 
 
Amendment No. 8 to the Initial 13D filed on August 6, 2010;
 
Amendment No. 9 to the Initial 13D filed on August 17, 2010; and
 
 
Amendment No. 10 to the Initial 13D filed on June 20, 2011 (“Amendment No. 10”),
amends and supplements the items set forth herein. As used in this statement, the term “Filers” collectively refers to:
   
Coliseum Capital Management, LLC, a Delaware limited liability company (“CCM”);
 
   
Coliseum Capital, LLC, a Delaware limited liability company (“CC”);
 
   
Coliseum Capital Partners, L.P., a Delaware limited partnership (“CCP”);
 
   
Blackwell Partners, LLC, a Georgia limited liability company (“Blackwell”):
 
   
Adam Gray (“Gray”); and
 
   
Christopher Shackelton (“Shackelton”).
Item 1. Security and Issuer.
Item 1 is amended and restated in its entirety as follows.
This statement relates to shares of Class A Common Stock, $0.10 par value per share (the “Class A Common Stock”) and Common Stock, $0.10 par value per share (the “Common Stock”) of Benihana Inc. (the “Issuer”). The principal executive office of the Issuer is located at 8685 Northwest 53rd Terrace, Miami, FL 33166.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is supplemented as follows:
The source and amount of funds used making the purchases of the Class A Common Stock and the Common Stock described in Item 5 hereof were as follows:
             
Purchaser   Source of Funds   Amount  
Blackwell
  Working Capital   $ 463,164.84  
CCP
  Working Capital   $ 724,047.66  

 

Page 8 of 10


 

                     
CUSIP No.
 
082047200 
 
Item 5. Interest in Securities of the Issuer.
Item 5 is amended and supplemented as follows:
Class A Common Stock
The information relating to the beneficial ownership of Class A Common Stock by each of the Filers set forth in Rows 7 through 13 of the cover pages hereto is incorporated herein by reference. The percentages set forth in Row 13 for all cover pages filed herewith are calculated based upon 10,650,920 shares of Class A Common Stock outstanding as of June 3, 2011, as reported in the Issuer’s Annual Report on Form 10-K for the fiscal year ended March 27, 2011, filed with the Commission on June 9, 2011 (the “Issuer’s 10-K”).
The Filers effected the following transactions in the Class A Common Stock in open market transactions on the dates indicated, and such transactions are the only transactions in the Class A Common Stock by the Filers since the filing of Amendment No. 10:
                         
                    Weighted Average  
Name   Purchase or Sale   Date   Number of Shares     Price Per Share  
CCP
  Purchase   6/24/2011     76,234       9.50  
Blackwell
  Purchase   6/24/2011     48,766       9.50  
Common Stock
The information relating to the beneficial ownership of Common Stock by each of the Filers set forth in Rows 7 through 13 of the cover pages hereto is incorporated herein by reference. The percentages set forth in Row 13 for all cover pages filed herewith are calculated based upon 5,851,533 shares of Common Stock outstanding as of June 3, 2011, as reported in the Issuer’s 10-K.
Since the filing of Amendment No. 10, the Filers have not acquired beneficial ownership over additional shares of Common Stock.
The information in Item 6 is incorporated herein by reference.
Item 6. Contracts, Arrangement, Understandings or Relationships with Respect to Securities of the Issuer.
CCM is an investment adviser whose clients, including CCP and Blackwell, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock. CC is the general partner of CCP. Gray and Shackelton are the managers of CC and CCM.

 

Page 9 of 10


 

                     
CUSIP No.
 
082047200 
 
SIGNATURES
After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct.
Dated: June 27, 2011
             
COLISEUM CAPITAL MANAGEMENT, LLC   BLACKWELL PARTNERS, LLC
 
           
 
      By:   Coliseum Capital Management, LLC, Attorney-in-fact
 
           
By:
  /s/ Christopher Shackelton   By:   /s/ Adam Gray
 
         
 
  Christopher Shackelton, Manager       Adam Gray, Manager
 
           
COLISEUM CAPITAL PARTNERS, L.P.   CHRISTOPHER SHACKELTON
 
           
By:
  Coliseum Capital, LLC, General Partner        
 
           
By:   /s/ Adam Gray   /s/ Christopher Shackelton
 
         
    Adam Gray, Manager   Christopher Shackelton
 
           
COLISEUM CAPITAL, LLC   ADAM GRAY
 
           
By:   /s/ Adam Gray   /s/ Adam Gray
 
         
    Adam Gray, Manager   Adam Gray

 

Page 10 of 10