-----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, VDXnWAfjA2mEiIuCEaa3ZniSgAWwLh1gF4PbtY3PTX/N+y1ojXpWOtnpTlt9bVfx XE3FKtAQYbT2ZVUFCiFLAw== 0000912057-02-034349.txt : 20020903 0000912057-02-034349.hdr.sgml : 20020903 20020903144954 ACCESSION NUMBER: 0000912057-02-034349 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20020903 GROUP MEMBERS: BRET LEVY GROUP MEMBERS: EL CORTE INGLES, S.A. GROUP MEMBERS: JOSEPH LEVY FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HARRIS CO CENTRAL INDEX KEY: 0001068983 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DEPARTMENT STORES [5311] IRS NUMBER: 950812550 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 300 NORTH E STREET CITY: SAN BERNARDINO STATE: CA ZIP: 92416 BUSINESS PHONE: 2094348000 MAIL ADDRESS: STREET 1: 300 NORTH E STREET CITY: SAN BERNADINO STATE: CA ZIP: 92416 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GOTTSCHALKS INC CENTRAL INDEX KEY: 0000790414 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DEPARTMENT STORES [5311] IRS NUMBER: 770159791 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-38092 FILM NUMBER: 02755217 BUSINESS ADDRESS: STREET 1: 7 RIVER PARK PL E STREET 2: P O BOX 28920 CITY: FRESNO STATE: CA ZIP: 93720 BUSINESS PHONE: 2094348000 MAIL ADDRESS: STREET 1: 7 RIVER PARK PLACE EAST STREET 2: P O BOX 28920 CITY: FRESNO STATE: CA ZIP: 93720 SC 13D/A 1 a2088574zsc13da.htm SC 13D/A
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 3)1

    Gottschalks Inc.
(Name of Issuer)
   

 

 

 

 

 
    Common Stock, par value $0.01 per share
(Title of Class of Securities)
   

 

 

 

 

 
    383495109
(CUSIP Number)
   

 

 

 

 

 
    Thomas H. McPeters, Esq.
McPeters, McAlearney, Shimoff & Hatt, A Professional Corporation
Washington Mutual Bank Building, Second Floor, 4 West Redlands Boulevard
P.O. Box 2084
Redlands, California 92373-0661
Telephone (909) 792-8919

(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
   

 

 

 

 

 
    August 29, 2002
(Date of Event which Requires Filing of this Statement)
   

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note:    Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7(b) for other parties to whom copies are to be sent.

1
The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Page 1 of 4


SCHEDULE 13D

        This Amendment No. 3 (this "Amendment") amends and supplements Items 4, 6 and 7 of the Schedule 13D (the "Schedule") filed on August 28, 1998, as amended by Amendment No. 1 thereto filed on February 28, 2002, and Amendment No. 2 thereto filed on June 4, 2002, by The Harris Company ("Harris"), El Corte Ingles, S.A., Joseph Levy and Bret Levy with respect to the Common Stock of Gottschalks Inc. ("the Company"). All capitalized terms used but not defined in this Amendment have the meanings ascribed to such terms in the Schedule.

Page 2 of 4



Item 4.  Purpose of Transaction.

        Pursuant to a Credit Facilitation Agreement entered into on February 22, 2002 (the "Credit Facilitation Agreement") by and between the Company and Harris, Harris agreed to cause Bank of America, N.A. (the "Bank") to issue an Irrevocable Standby Letter of Credit in the amount of $7,000,000 (the "Letter of Credit") to General Electric Capital Corporation (the "Beneficiary"), the administrative agent for the lender syndicate pursuant to that certain Credit Agreement dated January 31, 2002 by and among the Company, the Beneficiary and CIT Business Credit. Pursuant to a First Amendment to Credit Facilitation Agreement dated May 29, 2002 by and between the Company and Harris, Harris agreed to cause the Bank to extend the term of the Letter of Credit from June 30, 2002 to September 30, 2002.

        On August 29, 2002, pursuant to a Second Amendment to Credit Facilitation Agreement dated August 29, 2002 by and between the Company and Harris (the "Second Amendment"), Harris agreed to cause the Bank to extend the term of the Letter of Credit from September 30, 2002 to January 31, 2003. In addition, the term of the Letter of Credit may be extended under certain circumstances as more fully described in the Second Amendment, a copy of which is filed herewith as Exhibit 8. The Company's reimbursement obligations to Harris under the amended Credit Facilitation Agreement, which arise in the event any payment is made under the Letter of Credit by the Bank to the Beneficiary, are general and unsecured obligations of the Company.

        Pursuant to a Guaranty—Security Agreement—Stock Pledge dated February 22, 2002 (the "Guaranty and Pledge") by and among Joseph Levy, Jody Levy-Schlesinger, Felicia Levy Weston, Bret Levy (collectively, the "Pledgors") and Harris, the Pledgors guaranteed the Company's obligations under the Credit Facilitation Agreement on a non-recourse basis, as described below. As security for the Pledgors' guaranty obligations and the Company's obligations under the Credit Facilitation Agreement, the Pledgors granted Harris a continuing security interest in all of the shares of the Company's common stock owned by the Pledgors (the "Shares"), all of the Pledgors' rights to acquire shares of the Company's common stock and all proceeds from the sale of any such shares (collectively, the "Collateral"). The Pledgors' guaranty under the Guaranty and Pledge is enforceable only against, and to the extent of, the Collateral, and not against any other assets of the Pledgors. During the term of the Guaranty and Pledge, and until a default by Company or a Pledgor under the Credit Facilitation Agreement or Guaranty and Pledge, the Pledgors will be entitled to exercise all voting and consensual rights pertaining to the Shares, and will be entitled to receive any and all dividends and distributions paid in respect of the Shares.


Item 6.  Contracts, Arrangements, Understanding or Relationships With Respect to Securities of the Issuer.

        Item 4 is incorporated herein by this reference.


Item 7.  Material to be Filed as Exhibits

Exhibit 8 Second Amendment to Credit Facilitation Agreement dated August 29, 2002 by and between the Company and Harris

Page 3 of 4



SIGNATURE

        After reasonable inquiry and to the best of the undersigneds' knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated:  September 3, 2002   THE HARRIS COMPANY, a California corporation

 

 

 

 
    By: /s/  JORGE PONT      
    Name: Jorge Pont
    Title: President and Chief Executive Officer

 

 

 

 
    EL CORTE INGLES, S.A., a Spanish corporation

 

 

 

 
    By: /s/  JORGE PONT      
    Name: Jorge Pont
    Title: International Division Director

 

 

 

 
    /s/  JOSEPH LEVY      
Joseph Levy

 

 

 

 
    /s/  BRET LEVY      
Bret Levy

 

 

 

 

Page 4 of 4




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SCHEDULE 13D
SIGNATURE
EX-8 3 a2088574zex-8.htm EXHIBIT 8
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EXHIBIT 8

SECOND AMENDMENT TO CREDIT FACILITATION AGREEMENT

        1.    Parties.    The parties to this Second Amendment to Credit Facilitation Agreement are Gottschalks Inc., a Delaware Corporation, and The Harris Company, a California Corporation.

        2.    Definitions.    The terms as used herein shall have meanings ascribed to them in the Credit Facilitation Agreement executed by the parties on February 22, 2002, and the First Amendment to Credit Facilitation Agreement executed by the parties on May 29, 2002, unless a different meaning is ascribed to them in this Second Amendment to Credit Facilitation Agreement.

        3.    Extension of Standby Letter of Credit.    Credit Facilitator shall cause the Standby Letter of Credit to be amended by Bank to permit draws by Beneficiary until January 31, 2003, and thereafter, until May 31, 2003, in the event the Corporation files, or there is filed against it, a petition under the United States Bankruptcy Code or Corporation make an assignment for the benefit of its creditors. Otherwise, the Standby Letter of Credit shall be and remain as first issued on February 22, 2002, and amended by Bank on May 31, 2002.

        4.    Payment to Credit Facilitator.    Corporation shall pay to Credit Facilitator, on demand and in immediately available funds, the amount of any Payment to Beneficiary by Bank plus interest at the lesser of ten percent (10%) per annum, or the greatest amount that may be charged without violation of law.

        5.    Corporation to Pay Credit Facilitator Bank's Fees, Expenses and Costs.    Corporation shall pay to Credit Facilitator, on demand and in immediately available funds, the Bank's Fees, Expenses and Costs for amending the Standby Letter of Credit, plus interest at the lesser of ten percent (10%) per annum, or the greatest amount that may be charged without violation of law, from and after five (5) business days of demand to the date of payment to Credit Facilitator.

        6.    Effect of Second Amendment.    The Credit Facilitation Agreement, and First Amendment to Credit Facilitation Agreement, shall remain in full force and effect as originally written, except as modified, superseded or amended, by this Second Amendment.

SIGNATURE PROVISIONS ON THE FOLLOWING PAGE



 

 

 

 
Dated  August 29, 2002   GOTTSCHALKS INC.,
A Delaware Corporation

 

 

 

 
    By: /s/  JAMES R. FAMALETTE      
James R. Famalette
President and Chief Executive Officer

 

 

 

 
    By: /s/  MICHAEL S. GEELE      
Michael S. Geele
Senior Vice President and Chief Financial Officer

 

 

 

 
    THE HARRIS COMPANY,
A California Corporation

 

 

 

 
    By: /s/  JORGE PONT      
Jorge Pont
President and Chief Executive Officer

 

 

 

 
    By: /s/  THOMAS H. MCPETERS      
Thomas H. McPeters
Chief Financial Officer and Secretary

 

 

 

 



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SECOND AMENDMENT TO CREDIT FACILITATION AGREEMENT
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