-----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, RAzPWOU9/nwhEya1rytfu2h061XaWYMmk+xx2qjLqVOME+o7NEIPLxmBfiyzFNcY dM+vS37DneoxS2g8Q8/Nzg== /in/edgar/work/20000608/0000096294-00-000018/0000096294-00-000018.txt : 20000919 0000096294-00-000018.hdr.sgml : 20000919 ACCESSION NUMBER: 0000096294-00-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000608 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000608 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TANDYCRAFTS INC CENTRAL INDEX KEY: 0000096294 STANDARD INDUSTRIAL CLASSIFICATION: [5940 ] IRS NUMBER: 751475224 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07258 FILM NUMBER: 651385 BUSINESS ADDRESS: STREET 1: 1400 EVERMAN PKWY CITY: FORT WORTH STATE: TX ZIP: 76140 BUSINESS PHONE: 8175519600 MAIL ADDRESS: STREET 1: 1400 EVERMAN PKWY CITY: FORT WORTH STATE: TX ZIP: 76140 8-K 1 0001.txt 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: June 8, 2000 Date of Earliest Event Reported: June 6, 2000 TANDYCRAFTS, INC. A DELAWARE CORPORATION 1-7258 75-1475224 ------ ---------- (Commission File Number) (IRS Employer Identification No.) 1400 Everman Parkway Fort Worth, Texas 76140 (817) 551-9600 ITEM 5. OTHER EVENTS ------------ (a) On June 6, 2000, Registrant issued a press release announcing that it completed the sale of its Waco, Texas-based J-Mar unit to Florida-based Universal Designs, Inc. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS --------------------------------- (c) Exhibits. -------- Exhibit Number Description -------- ------------------------------------------- 99 On June 6, 2000, Registrant issued a press release announcing that it completed the sale of its Waco, Texas-based J-Mar unit to Florida-based Universal Designs, Inc. 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 of the undersigned thereunto duly authorized. TANDYCRAFTS, INC. Date: June 8, 2000 By:/s/ Michael J. Walsh -------------------------- Michael J. Walsh, Chairman and Chief Executive Officer Date: June 8, 2000 By:/s/ James D. Allen -------------------------- James D. Allen, President and Chief Operating Officer Date: June 8, 2000 By:/s/ Leo Taylor -------------------------- Leo Taylor, Senior Vice President of Finance (Principal Finance Officer) EX-99 2 0002.txt CONTACT: Leo Taylor Tandycrafts, Inc. (817) 551-9600 (investor_relations@tandycrafts.com) FOR IMMEDIATE RELEASE or Jeff Lambert, Brian Edwards (mail@lambert-edwards.com) Lambert, Edwards & Associates, Inc. (616) 233-0500 TANDYCRAFTS COMPLETES SALE OF J-MAR UNIT ---------------------------------------- FORT WORTH, Texas, June 6, 2000 - Tandycrafts, Inc. (NYSE: TAC) today announced it has completed the sale of its Waco, Texas-based J-Mar unit to Florida-based Universal Designs, Inc. Terms of the transaction were not disclosed. The Fort Worth, Texas-based consumer products maker and marketer said the sale of J-Mar, which makes inspirational gifts and stationery, is the first divestiture as part of the Company's strategic plan announced earlier this year. Tandycrafts' plan, announced in February 2000, entails selling its non-core Gifts and Office Supply divisions; focusing the Company on its core frames and wall decor, home furnishings and consumer direct operations; and making key operational improvements and cost reductions. Tandycrafts said it currently expects to complete the sale of its two other Gift division units, Licensed Lifestyles and Rivertown Button, during the current quarter, which ends June 30. Tandycrafts said the net cash proceeds from the sale of J-Mar were in line with the Company's expectations. The Company will use the proceeds to reduce debt. "We are aggressively executing our strategic plan and are on track to emerge in fiscal 2001 as a more focused and profitable company," said Michael Walsh, Tandycrafts' chairman of the board and chief executive officer. "The sale of J- Mar is another important step in this process as we push to complete the bulk of our operating initiatives and exit our Gifts and Office Supplies business units this quarter." Tandycrafts announced last week it ceased production at its California frame manufacturing facility and is completing the move of equipment to its new state- of-the-art production facility in Durango, Mexico to double that plant's production capacity. Tandycrafts also has completed the centralization of distribution for its frames and wall decor and home furnishings divisions at its headquarters in Fort Worth. "We are following through on our commitment to affect significant change and generate long-term profitability for Tandycrafts," said Jim Allen, president and chief operating officer. "We are among the leaders in the core markets we serve, and we see tremendous opportunity to build our market share in the future." - MORE - TANDYCRAFTS/ PAGE 2 OF 2 Tandycrafts, Inc. (www.tandycrafts.com) is a leading maker and marketer of consumer products, including frames and wall decor, office supplies, home furnishings and gift products. The Company's products are sold nationwide through wholesale distribution channels, including mass merchandisers and specialty retailers, and direct-to-consumer channels through the Company's retail stores, mail order and the Internet. This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, successful implementation of this strategic plan, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. # # # -----END PRIVACY-ENHANCED MESSAGE-----