UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 20, 2014
ALCO Stores, Inc.
(Exact name of registrant as specified in its charter)
Kansas |
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001-35911 |
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48-0201080 |
(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
751 Freeport Parkway, Coppell, Texas 75019
(Address of principal executive offices) (Zip Code)
(469) 322-2900
(Registrants telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
On November 20, 2014, the United States Bankruptcy Court for the Northern District of Texas, Dallas Division (the Bankruptcy Court) issued an order (the Sale Order) approving the Companys entry into that certain Agency Agreement dated as of October 15, 2014 (the Agency Agreement) among ALCO Stores, Inc. (the Company) and its subsidiary, ALCO Holdings, Limited Liability Company, and a joint venture among Tiger Capital Group, LLC, SB Capital Group, LLC, and Great American Group WF, LLC (collectively, the Liquidator) and authorizing the sale of certain of the Companys merchandise by the Liquidator through a going out of business sale (the GOB Sale). On November 21, 2014, the Liquidators began conducting the GOB Sale in each of the Companys 198 locations in 23 states on the terms described in the Agency Agreement.
The material terms of the Agency Agreement and the GOB Sale were previously disclosed in the Companys Current Report on Form 8-K filed on November 4, 2014 and are further qualified here in their entirety by reference to the Sale Order filed with the Bankruptcy Court.
Forward-Looking Statements
In addition to historical information, this Current Report on Form 8-K contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this Current Report on Form 8-K are forward-looking statements. These statements speak only as of the date of this Current Report on Form 8-K, and we disclaim any intention or obligation to update or revise any forward-looking statements to reflect new information, future events or developments or otherwise. These statements are subject to risks and uncertainties that could cause the Companys actual results to differ materially from the future results expressed or implied by the forward-looking statements.
These risks and uncertainties include but are not limited to (i) the Companys ability to obtain Bankruptcy Court approval with respect to motions in the Chapter 11 cases, (ii) the expectation that the Chapter 11 cases will enable us to sell our assets in an orderly manner and maximize the value for our stakeholders, our ability to operate our business during this process and the plans and objectives of our management and assumptions regarding our future performance, (iii) the effects of the Companys bankruptcy filing on the Company and the interests of various creditors, equity holders and other constituents, (iv) Bankruptcy Court rulings in the Chapter 11 cases and the outcome of the cases in general, (v) the length of time the Company will operate under the Chapter 11 cases, (vi) risks associated with third party motions in the Chapter 11 cases, which may interfere with the Companys ability to develop and consummate the plan of liquidation, and (vii) the potential adverse effects of the Chapter 11 proceedings on the Companys liquidity or results of operations. In the event that the risks disclosed in the Companys public filings and those discussed above cause results to differ materially from those expressed in the Companys forward-looking statements, the Companys business, financial condition, results of operations or liquidity, and the interests of creditors, equity holders and other constituents, could be materially adversely affected.
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.
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ALCO STORES, INC. | |
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Date: November 25, 2014 |
By: |
/s/ Stanley B. Latacha |
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Stanley B. Latacha |
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Interim Chief Executive Officer |