-----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, O8a43GHMy6kKsVVNKYTOh4+aWCo5vMpZtbxF9MHmFX4nuzSxH/ftcTwFJ1V8jPkE 1OeRwfuK/kNnqiFJqE2V/g== /in/edgar/work/20000707/0000096294-00-000022/0000096294-00-000022.txt : 20000920 0000096294-00-000022.hdr.sgml : 20000920 ACCESSION NUMBER: 0000096294-00-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000707 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000707 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: 669163 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: July 7, 2000 Date of Earliest Event Reported: June 30, 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 30, 2000, Registrant issued a press release announcing that it has completed the sale of its Sav-On Office Supplies chain to Dallas-based Phoenix Partners. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS --------------------------------- (c) Exhibits. -------- Exhibit Number Description -------- --------------------------------------------------- 99 On June 30, 2000, Registrant issued a press release announcing that it has completed the sale of its Sav-On Office Supplies chain to Dallas-based Phoenix Partners. 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: July 7, 2000 By:/s/ Michael J. Walsh --------------------------- Michael J. Walsh, Chairman and Chief Executive Officer Date: July 7, 2000 By:/s/ James D. Allen --------------------------- James D. Allen, President and Chief Operating Officer Date: July 7, 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 SAV-ON OFFICE SUPPLIES CHAIN FORT WORTH, Texas, June 30, 2000 - Tandycrafts, Inc. (NYSE: TAC) today announced it has completed the sale of its Sav-On Office Supplies chain to Dallas-based Phoenix Partners. Terms of the transaction were not disclosed. The Fort Worth, Texas-based consumer products maker and marketer said the sale of Sav-On, a 41-store chain of office supply superstores, marks the Company's second divestiture this month and represents another milestone in the Company's strategic plan announced earlier this year. Earlier this month, Tandycrafts announced the sale of its J-Mar unit. Tandycrafts' strategic 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 the net cash proceeds from the sale of Sav-On were in line with the Company's expectations. The Company will use the proceeds to reduce debt. "We are delivering on our promise to divest ourselves of our Gifts and Office Supplies divisions before the end of the fourth quarter," said Michael Walsh, Tandycrafts' chairman of the board and chief executive officer. "The sale of Sav-On puts us one step closer to meeting our goal of positioning the company for growth and a return to profitability in fiscal 2001." "'" Tandycrafts, Inc. (www.tandycrafts.com) is a leading maker and marketer of consumer products, including frames and wall decor, 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-----