-----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, H3hNUEx2eowNYTREOh6U+ZXwJfDTUpuJONNwI3LZhPccAp9w3ydaY6hgJRqUdcNR dthmUE9zFZvn52A50wbO6w== 0000950123-97-005786.txt : 19970714 0000950123-97-005786.hdr.sgml : 19970714 ACCESSION NUMBER: 0000950123-97-005786 CONFORMED SUBMISSION TYPE: 11-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970711 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: HANOVER DIRECT INC CENTRAL INDEX KEY: 0000320333 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-CATALOG & MAIL-ORDER HOUSES [5961] IRS NUMBER: 138053260 STATE OF INCORPORATION: NV FISCAL YEAR END: 1227 FILING VALUES: FORM TYPE: 11-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-08056 FILM NUMBER: 97639704 BUSINESS ADDRESS: STREET 1: 1500 HARBOR BLVD CITY: WEEHAWKEN STATE: NJ ZIP: 07087 BUSINESS PHONE: 2018653800 MAIL ADDRESS: STREET 1: 1500 HARBOR BLVD CITY: WEEHAWKEN STATE: NJ ZIP: 07087 FORMER COMPANY: FORMER CONFORMED NAME: HORN & HARDART CO /NV/ DATE OF NAME CHANGE: 19920703 11-K/A 1 HANOVER DIRECT INC./AMENDMENT NO. 1 TO FORM 11-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K/A1 Amendment No.1 to ANNUAL REPORT Pursuant to Section 15(d) of the Securities and Exchange Act of 1934 For the fiscal years ended December 31, 1995 and 1996 Commission file number 1 - 12082 A. Full Title of the plan and the address of the plan, if different from that of the issuer named below: HANOVER DIRECT, INC. SAVINGS & RETIREMENT PLAN c/o Hanover Direct, Inc. 1500 Harbor Boulevard Weehawken, New Jersey 07087 B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: Hanover Direct, Inc. 1500 Harbor Boulevard Weehawken, New Jersey 07087 2 This Form 11-K/A1 is being filed by Hanover Direct, Inc., a Delaware corporation (the "Company"), as an amendment to its Annual Report on Form 11-K for the Hanover Direct, Inc. Savings and Retirement Plan (the "Plan") for the Plan's fiscal year ended December 31, 1996 to make certain amendments to such Form 11-K as set forth below. 1 The STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS - For the Year ended December 31, 1996 is deleted in its entirety and replaced with the following. 3 HANOVER DIRECT, INC. SAVINGS AND RETIREMENT PLAN (formerly The Horn & Hardart Company Savings Plan) STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1996
Fixed Conservative Capital Conservative Balanced Income Bond Growth Equity Value Fund Fund Fund Fund Fund -------------------------------------------------------------------------------------- INCREASES IN NET ASSETS: Interest/dividend income $ 3,061 $ 35 $ 141 $ 84 $ 104 Change in plan participant loan receivable (23,037) Contributions Participants 392,236 Hanover Direct, Inc and subsidiaries (net of credited forfeitures of $0 in 1996 110,311 Interfund transfers (41,503) 5,388 56,284 4,477 (25,018) ------------------------------------------------------------------------------------- Total additions 441,068 5,423 56,425 4,561 (24,914) DECREASES IN NET ASSETS: Disbursements, withdrawals, terminations and administrative costs 251,050 12,801 40,667 48,062 42,887 Unallocated forfeitures Net change in depreciation (appreciation) on fund investments (66,422) 6,245 (126,257) (102,996) (86,209) ------------------------------------------------------------------------------------- Total deductions (additions) 184,628 19,046 (85,590) (54,934) (43,322) ------------------------------------------------------------------------------------- Net increase (decrease) 256,440 (13,623) 142,015 59,495 18,408 NET ASSETS AVAILABLE FOR BENEFITS, beginning of year 4,668,445 751,963 2,171,985 1,936,652 2,355,210 ------------------------------------------------------------------------------------- Trustee Transfer (4,924,885) (738,340) (2,314,000) (1,996,147) (2,373,618) ------------------------------------------------------------------------------------- NET ASSETS AVAILABLE FOR BENEFITS, end of year $ -- $ -- $ -- $ -- $ -- =====================================================================================
Hanover Combined Stable Spectrum Spectrum Direct, Inc. Paine Webber Value Income Growth Stock Fund Funds Fund Fund Fund ------------------------------------------------------------------------------------ INCREASES IN NET ASSETS: Interest/dividend income $ 593 $ 4,018 $ 182,323 $ 124,780 $ 431,974 Change in plan participant loan receivable (23,037) 13,628 (1,262) (39,431) Contributions Participants 392,236 550,792 50,120 361,436 Hanover Direct, Inc and subsidiaries (net of credited forfeitures of $0 in 1996 110,311 159,308 188,693 89,977 Interfund transfers 372 -- (213,609) (49,117) (198,248) ------------------------------------------------------------------------------------ Total additions 965 483,528 692,442 313,214 645,708 DECREASES IN NET ASSETS: Disbursements, withdrawals, terminations and administrative costs (3,798) 391,669 979,478 202,349 448,238 Unallocated forfeitures 3,637 3,637 33,770 6,417 17,836 Net change in depreciation (appreciation) on fund investments 96,393 (279,246) -- (44,778) (291,940) ------------------------------------------------------------------------------------ Total deductions (additions) 96,232 116,060 1,013,248 163,988 174,134 ------------------------------------------------------------------------------------ Net increase (decrease) (95,267) 367,468 (320,806) 149,226 471,574 NET ASSETS AVAILABLE FOR BENEFITS, beginning of year 415,067 12,299,322 -- -- -- ------------------------------------------------------------------------------------ Trustee Transfer (319,800) (12,666,790) 4,681,399 1,978,227 5,659,279 ------------------------------------------------------------------------------------ NET ASSETS AVAILABLE FOR BENEFITS, end of year $ -- $ -- $4,360,593 $2,127,453 $6,130,853 ====================================================================================
New International Hanover Combined Horizons Stock Direct, Inc. T. Rowe Plan Fund Fund Stock Fund Price Funds Totals -------------------------------------------------------------------------------- INCREASES IN NET ASSETS: Interest/dividend income $ 76,933 $ 7,920 $ 282 $ 824,212 $ 828,230 Change in plan participant loan receivable 24,339 10,384 523 8,181 (14,856) Contributions Participants 401,341 153,316 11,182 1,528,187 1,920,423 Hanover Direct, Inc and subsidiaries (net of credited forfeitures of $0 in 1996 87,707 31,516 3,205 560,406 670,717 Interfund transfers 364,151 128,168 (31,345) -- -- -------------------------------------------------------------------------------- Total additions 954,471 331,304 (16,153) 2,920,986 3,404,514 DECREASES IN NET ASSETS: Disbursements, withdrawals, terminations and administrative costs 70,178 46,249 42,633 1,789,125 2,180,794 Unallocated forfeitures 2,200 376 2,090 62,689 66,326 Net change in depreciation (appreciation) on fund investments 52,475 (10,176) 117,040 (177,379) (456,625) -------------------------------------------------------------------------------- Total deductions (additions) 124,853 36,449 161,763 1,674,435 1,790,495 -------------------------------------------------------------------------------- Net increase (decrease) 829,618 294,855 (177,916) 1,246,551 1,614,019 NET ASSETS AVAILABLE FOR BENEFITS, beginning of year -- -- -- -- 12,299,322 -------------------------------------------------------------------------------- Trustee Transfer -- -- 347,885 12,666,790 -- -------------------------------------------------------------------------------- NET ASSETS AVAILABLE FOR BENEFITS, end of year $829,618 $294,855 $ 169,969 $13,913,341 $13,913,341 ================================================================================
The accompanying notes are an integral part of these statements. 4 2 The second paragraph of Note 6 (Contribution Payable) is deleted in its entirety and replaced with the following. The December 31, 1996 contribution payable consists of unvested Employer Contributions forfeited by terminated Plan participants. The forfeited amounts will be used to reduce the Company's contributions to participants in 1997. 3 Note 7 Net Depreciation/(Appreciation) on Fund Investments is deleted in its entirety and replaced with the following. 7. NET DEPRECIATION/(APPRECIATION) ON FUND INVESTMENTS The net depreciation/(appreciation) on fund investments at December 31, 1996 consists of unrealized depreciation of approximately $1.7 million and an aggregate realized gain of approximately $2.2 million. The Plan sold investments during the 1996 Plan year with approximate aggregate costs of $12.7 million resulting in aggregate proceeds of approximately $14.9 million. The realized gain/loss on the investments sold is the difference between the market value at the beginning of the Plan year (or on the purchase date if purchased during the Plan year) and the date of sale. 4 Form 5500 - Item 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES - As of December 31, 1996 is deleted in its entirety and replaced with the following. 5 HANOVER DIRECT, INC. SAVINGS AND RETIREMENT PLAN (formerly The Horn & Hardart Company Savings Plan) FORM 5500 - ITEM 27A SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 1996
Current Description Cost Value ----------- -------------------------------- INVESTMENT IN: STABLE VALUE PORTFOLIO - T. Rowe Price Retirement Plan Services, Inc. $ 4,079,812 $ 4,079,812 SPECTRUM INCOME PORTFOLIO - T. Rowe Price Retirement Plan Services, Inc. 2,086,556 2,127,453 SPECTRUM GROWTH PORTFOLIO - T.Rowe Price Retirement Plan Services, Inc. 5,872,920 6,130,853 NEW HORIZONS PORTFOLIO - T. Rowe Price Retirement Plan Services, Inc. 881,930 829,618 INTERNATIONAL STOCK PORTFOLIO - T. Rowe Price Retirement Plan Services, Inc. 286,171 294,855 HANOVER DIRECT, INC. COMMON STOCK (1) 184,405 169,969 PLAN PARTICIPANT LOAN RECEIVABLE (2) 411,083 411,083 -------------------------------- TOTAL ASSETS HELD FOR INVESTMENT PURPOSES 13,802,877 14,043,643 ================================
(1) Represents party in interest. (2) Terms of these loans generally range from 1 to 5 years and bear interest ranging from 7.0% to 10.0%. 6 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the members of the Administrative Committee have duly caused this amendment to this annual report to be signed on its behalf by the undersigned hereunto duly authorized. HANOVER DIRECT, INC. SAVINGS & RETIREMENT PLAN DATE: JULY 11, 1997 By: /s/ Larry Svoboda ------------------------------------ Larry Svoboda Senior Vice President and Chief Financial Officer By: /s/ Edward J. O'Brien ------------------------------------ Edward J. O'Brien Senior Vice President, Treasurer and Secretary -----END PRIVACY-ENHANCED MESSAGE-----