- Current report filing (8-K)
March 26 2010 - 6:00AM
Edgar (US Regulatory)
UNITED
STATES
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 (Date of Earliest Event Reported): March 19, 2010
CPI
CORP.
(Exact
name of registrant as specified in its charter)
Delaware
|
1-10204
|
43-1256674
|
(State
of Incorporation)
|
(Commission
File Number)
|
(IRS
Employer
Identification
No.)
|
1706
Washington Ave., St. Louis, Missouri
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63103
|
(Address
of Principal Executive Offices)
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(Zip
Code)
|
Registrant’s
telephone number, including area code:
(314) 231-1575
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
8.01. Other
Events.
On March
19, 2010, CPI Corp. (“CPI”) participated in an auction for the assets of Kiddie
Kandids, LLC (“Kiddie Kandids”). Kiddie Kandids is a chapter 7 debtor
under Case No. 10-20334 brought before the United States Bankruptcy Court for
the District of Utah (the “Bankruptcy Court”). At the conclusion of the
auction, CPI was declared the successful bidder for substantially all of Kiddie
Kandids personal property and real property assets with a proposed aggregate
purchase price of approximately $2.6 million. The proposed sale of Kiddie
Kandids' assets to CPI remains subject to the approval of the Bankruptcy
Court. The Bankruptcy Court has scheduled the final hearing on the sale
motion for March 30, 2010.
Prior to
its filing bankruptcy, Kiddie Kandids operated 184 studios in the United States,
which included 134 in Babies “R” Us stores and 50 stores located in
malls. Kiddie Kandids generated sales of approximately $59.5 million
in its fiscal year ended December 26, 2009. Upon entry of a final
non-appealable order confirming the sale of Kiddie Kandids’ assets, CPI intends
to resume operations in all of the Babies "R" Us stores and at certain mall
locations.
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, thereunto
duly authorized.
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CPI CORP.
|
|
|
|
|
|
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By:
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/s/Jane
E. Nelson
|
|
|
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Jane
E. Nelson
|
|
|
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Secretary
and General Counsel
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|
|
|
|
|
Dated: March
25, 2010
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