FORM 8-K

                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                        Date of Report: September 5, 1997
                        (Date of earliest event reported)
<TABLE>
<CAPTION>
  <S>                                                            <C>
               LEVITZ FURNITURE INCORPORATED                                LEVITZ FURNITURE CORPORATION
  (Exact name of registrant as specified in its charter)       (Exact name of registrant as specified in its charter)

      DELAWARE             33-47377-01            23-2351830              FLORIDA             33-47377             23-1657490
  (State or other       (Commission File         (IRS Employer        (State or other       (Commission          (IRS Employer
  jurisdiction of            Number)          Identification No.)     jurisdiction of       File Number)      Identification No.)
   incorporation)                                                      incorporation)
</TABLE>

                         6111 BROKEN SOUND PARKWAY, N.W.
                         BOCA RATON, FLORIDA 33487-2799
                                 (561) 994-6006

                (Address including zip code, and telephone number
        including area code of registrants' principal executive offices)


<PAGE>

Item 3.  BANKRUPTCY OR RECEIVERSHIP.

         On September 5, 1997, Levitz Furniture Incorporated, a Delaware
corporation ("LFI"), and each of its subsidiaries, including, Levitz Furniture
Corporation, a Florida corporation and wholly owned subsidiary of LFI ("LFC"),
filed voluntary petitions for relief under Chapter 11, Title 11 of the United
States Code (the "Bankruptcy Code") with the United States Bankruptcy Court for
the District of Delaware, Wilmington, Delaware 19801 (the "Court"). The Court
agreed to consolidate the petitions and provide for the joint administration of
their respective cases. Pursuant to Sections 1107 and 1108 of the Bankruptcy
Code, LFI, as debtor and debtor-in-possession, will continue to manage and
operate its assets and businesses in the ordinary course of business, pending
the confirmation of the plan of reorganization and subject to the supervision
and orders of the Court. No trustee, examiner or similar officer has been
appointed by the Court. By operating as debtor-in- possession under Chapter 11
of the Bankruptcy Code, the existing directors and officers of LFI will continue
to manage the operations of LFI subject to the supervision and orders of the
Court.

         On September 5, 1997, LFI and LFC entered into a credit agreement (the
"Credit Agreement") with a group of lenders (the "Lenders"), led by BT Commer-

                                        2

<PAGE>

cial Corporation, pursuant to which, among other things, the Lenders have agreed
to provide LFI and LFC with a financing facility in an aggregate principal
amount not to exceed $260 million (the "Facility"). Advances under the Facility
are subject to certain conditions, including the execution of definitive loan
documents in form and substance acceptable to the Lenders. The Court approved
the Facility on an interim basis on September 8, 1997, thus allowing LFI and LFC
to borrow up to $40 million under the Facility over and above LFI and LFC's
existing liabilities under a prepetition credit agreement that provided for
loans to LFI and LFC in an aggregate principal amount of up to $190 million. A
final hearing on the full $260 million Facility is scheduled for October 7,
1997.

         On September 5, 1997, LFC and General Electric Capital Corporation
("GECC") entered into an amended and restated agreement (the "Amended GECC
Agreement"), the effectiveness of which is subject to Court approval. On
September 8, 1997, the Court approved the Amended GECC Agreement, subject to a
final hearing on October 7, 1997.

         Under LFC's previously existing agreement with GECC, LFC's customer
obligations are transferred to GECC on a nonrecourse basis, except for
insignificant amounts. Under such agreement, LFC may pay GECC a service fee or
may

                                        3

<PAGE>

receive income, based upon the relationship among the interest earned on the
portfolio transferred thereunder, the amount of the servicing fee, the prime
rate, promotional discount fees and to a limited extent, credit losses. The
Amended GECC Agreement provides for two incremental increases in the service fee
per active account of $.40 each, commencing, respectively, after the date of
entry of the Court order approving the Amended GECC Agreement and after January
31, 1998, with the second incremental increase subject to elimination if LFC
reaches agreement with a third party regarding the terms and conditions of a
credit card program. Under the Amended GECC Agreement, the incremental increases
in the service fee are subject to accrual through March 1, 1998 and thereafter
will be amortized in equal installments over the immediately following six-month
period. All amounts so accrued will become immediately due and payable upon
termination of the Amended GECC Agreement.

         The foregoing summary of the Credit Agreement and the Amended GECC
Agreement are qualified in their entirety by reference to the full text of the
Credit Agreement and the Amended GECC Agreement copies of which are filed as
Exhibits to this Current Report on Form 8-K.

                                        4

<PAGE>

Item 7.  FINANCIAL STATEMENTS AND EXHIBITS.

         (c)      EXHIBITS:

         99.1                       $260,000,000 Postpetition Credit Agree-
                                    ment among Levitz Furniture Incorporat-
                                    ed, Levitz Furniture Corporation,
                                    Levitz Furniture Realty Corporation,
                                    Levitz Shopping Service, Inc., Levitz
                                    Furniture Company of the Midwest, Inc.,
                                    Levitz Furniture Company of the Pacif-
                                    ic, Inc., Levitz Furniture Company of
                                    Washington, Inc., Levitz Furniture Com-
                                    pany of the Midwest Realty, Inc.,
                                    Levitz Furniture Company of the Pacific
                                    Realty, Inc., Levitz Furniture Company
                                    of Washington Realty, Inc., John M.
                                    Smyth Company and John M. Smyth Realty
                                    Company, Debtors and Debtors in Posses-
                                    sion, as Borrowers, The Financial In-
                                    stitutions from time to time parties
                                    thereto, as Lenders, with Levitz Furni-
                                    ture Corporation, as LFC Funds Adminis-
                                    trator and, BT Commercial Corporation,
                                    as Agent, dated as of September 5,
                                    1997.

         99.2                       Interim Order (I) Authorizing a Secured
                                    Post-Petition Financing on a Super Pri-
                                    ority Basis Pursuant to 11 U.S.C.ss. 363
                                    and 364, (II) Granting of Adequate Pro-
                                    tection Pursuant to 11 U.S.C.ss. 364 and
                                    (III) Scheduling A Final Hearing pursu-
                                    ant to Bankruptcy Rule 4001(C), ap-
                                    proved on September 8, 1997.

         99.3                       Second Amended and Restated Account
                                    Purchase And Credit Card Program Agree-
                                    ment by and among Levitz Furniture Cor-
                                    poration, Levitz Furniture Company of
                                    the Midwest, Inc., Levitz Furniture
                                    Company of the Pacific, Inc., Levitz
                                    Furniture Company of Washington, Inc.,
                                    Levitz Shopping Service, Inc., John M.
                                    Smyth Company and General Electric Cap-
                                    ital Corporation, dated September 5,
                                    1997.

                                       5

<PAGE>

         99.4                       Order Pursuant to Bankruptcy Code Sec-
                                    tions 105, 363 and 365 Authorizing the
                                    Debtors to Sell Accounts and Assume
                                    Second Amended and Restated Account
                                    Purchase and Credit Card Program Agree-
                                    ment, approved on September 8, 1997.

         99.5                       Press release issued by Levitz Furni-
                                    ture Incorporated on September 5, 1997.

                                        6

<PAGE>

                                               SIGNATURES

                  Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.

                                            LEVITZ FURNITURE INCORPORATED

                                            By /S/ EDWARD P. ZIMMER
                                               --------------------------------
                                                   Edward P. Zimmer
                                                   Vice President

Date:  September 12, 1997

<PAGE>

                                               SIGNATURES

                  Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.

                                            LEVITZ FURNITURE CORPORATION

                                            By /S/ EDWARD P. ZIMMER
                                               -------------------------------- 
                                                   Edward P. Zimmer
                                                   Vice President

Date:  September 12, 1997


<PAGE>



                                INDEX TO EXHIBITS

         EXHIBIT
         NUMBER                                      EXHIBIT
         ------                                      -------

         99.1                       $260,000,000 Postpetition Credit Agree-
                                    ment among Levitz Furniture Incorporat-
                                    ed, Levitz Furniture Corporation,
                                    Levitz Furniture Realty Corporation,
                                    Levitz Shopping Service, Inc., Levitz
                                    Furniture Company of the Midwest, Inc.,
                                    Levitz Furniture Company of the Pacif-
                                    ic, Inc., Levitz Furniture Company of
                                    Washington, Inc., Levitz Furniture Com-
                                    pany of the Midwest Realty, Inc.,
                                    Levitz Furniture Company of the Pacific
                                    Realty, Inc., Levitz Furniture Company
                                    of Washington Realty, Inc., John M.
                                    Smyth Company and John M. Smyth Realty
                                    Company, Debtors and Debtors in Posses-
                                    sion, as Borrowers, The Financial In-
                                    stitutions from time to time parties
                                    thereto, as Lenders, with Levitz Furni-
                                    ture Corporation, as LFC Funds Adminis-
                                    trator and, BT Commercial Corporation,
                                    as Agent, dated as of September 5,
                                    1997.

         99.2                       Interim Order (I) Authorizing a Secured
                                    Post-Petition Financing on a Super Pri-
                                    ority Basis Pursuant to 11 U.S.C.ss. 363
                                    and 364, (II) Granting of Adequate Pro-
                                    tection Pursuant to 11 U.S.C.ss. 364 and
                                    (III) Scheduling A Final Hearing pursu-
                                    ant to Bankruptcy Rule 4001(C), ap-
                                    proved on September 8, 1997.

         99.3                       Second Amended and Restated Account
                                    Purchase And Credit Card Program Agree-
                                    ment by and among Levitz Furniture Cor-
                                    poration, Levitz Furniture Company of
                                    the Midwest, Inc., Levitz Furniture
                                    Company of the Pacific, Inc., Levitz
                                    Furniture Company of Washington, Inc.,
                                    Levitz Shopping Service, Inc., John M.
                                    Smyth Company and General Electric Cap-


<PAGE>

                                    ital Corporation, dated September 5,
                                    1997.

         99.4                       Order Pursuant to Bankruptcy Code Sec-
                                    tions 105, 363 and 365 Authorizing the
                                    Debtors to Sell Accounts and Assume
                                    Second Amended and Restated Account
                                    Purchase and Credit Card Program Agree-
                                    ment, approved on September 8, 1997.

         99.5                       Press release issued by Levitz Furni-
                                    ture Incorporated on September 5, 1997.
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FORM 8-K

                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                        Date of Report: September 5, 1997
                        (Date of earliest event reported)
LEVITZ FURNITURE INCORPORATED                                LEVITZ FURNITURE CORPORATION
  (Exact name of registrant as specified in its charter)       (Exact name of registrant as specified in its charter)

      DELAWARE             33-47377-01            23-2351830              FLORIDA             33-47377             23-1657490
  (State or other       (Commission File         (IRS Employer        (State or other       (Commission          (IRS Employer
  jurisdiction of            Number)          Identification No.)     jurisdiction of       File Number)      Identification No.)
   incorporation)                                                      incorporation)
6111 BROKEN SOUND PARKWAY, N.W.
                         BOCA RATON, FLORIDA 33487-2799
                                 (561) 994-6006

                (Address including zip code, and telephone number
        including area code of registrants' principal executive offices)
Item 3.  BANKRUPTCY OR RECEIVERSHIP.

         On September 5, 1997, Levitz Furniture Incorporated, a Delaware
corporation ("LFI"), and each of its subsidiaries, including, Levitz Furniture
Corporation, a Florida corporation and wholly owned subsidiary of LFI ("LFC"),
filed voluntary petitions for relief under Chapter 11, Title 11 of the United
States Code (the "Bankruptcy Code") with the United States Bankruptcy Court for
the District of Delaware, Wilmington, Delaware 19801 (the "Court"). The Court
agreed to consolidate the petitions and provide for the joint administration of
their respective cases. Pursuant to Sections 1107 and 1108 of the Bankruptcy
Code, LFI, as debtor and debtor-in-possession, will continue to manage and
operate its assets and businesses in the ordinary course of business, pending
the confirmation of the plan of reorganization and subject to the supervision
and orders of the Court. No trustee, examiner or similar officer has been
appointed by the Court. By operating as debtor-in- possession under Chapter 11
of the Bankruptcy Code, the existing directors and officers of LFI will continue
to manage the operations of LFI subject to the supervision and orders of the
Court.

         On September 5, 1997, LFI and LFC entered into a credit agreement (the
"Credit Agreement") with a group of lenders (the "Lenders"), led by BT Commer-

                                        2
cial Corporation, pursuant to which, among other things, the Lenders have agreed
to provide LFI and LFC with a financing facility in an aggregate principal
amount not to exceed $260 million (the "Facility"). Advances under the Facility
are subject to certain conditions, including the execution of definitive loan
documents in form and substance acceptable to the Lenders. The Court approved
the Facility on an interim basis on September 8, 1997, thus allowing LFI and LFC
to borrow up to $40 million under the Facility over and above LFI and LFC's
existing liabilities under a prepetition credit agreement that provided for
loans to LFI and LFC in an aggregate principal amount of up to $190 million. A
final hearing on the full $260 million Facility is scheduled for October 7,
1997.

         On September 5, 1997, LFC and General Electric Capital Corporation
("GECC") entered into an amended and restated agreement (the "Amended GECC
Agreement"), the effectiveness of which is subject to Court approval. On
September 8, 1997, the Court approved the Amended GECC Agreement, subject to a
final hearing on October 7, 1997.

         Under LFC's previously existing agreement with GECC, LFC's customer
obligations are transferred to GECC on a nonrecourse basis, except for
insignificant amounts. Under such agreement, LFC may pay GECC a service fee or
may

                                        3
receive income, based upon the relationship among the interest earned on the
portfolio transferred thereunder, the amount of the servicing fee, the prime
rate, promotional discount fees and to a limited extent, credit losses. The
Amended GECC Agreement provides for two incremental increases in the service fee
per active account of $.40 each, commencing, respectively, after the date of
entry of the Court order approving the Amended GECC Agreement and after January
31, 1998, with the second incremental increase subject to elimination if LFC
reaches agreement with a third party regarding the terms and conditions of a
credit card program. Under the Amended GECC Agreement, the incremental increases
in the service fee are subject to accrual through March 1, 1998 and thereafter
will be amortized in equal installments over the immediately following six-month
period. All amounts so accrued will become immediately due and payable upon
termination of the Amended GECC Agreement.

         The foregoing summary of the Credit Agreement and the Amended GECC
Agreement are qualified in their entirety by reference to the full text of the
Credit Agreement and the Amended GECC Agreement copies of which are filed as
Exhibits to this Current Report on Form 8-K.

                                        4
Item 7.  FINANCIAL STATEMENTS AND EXHIBITS.

         (c)      EXHIBITS:

         99.1                       $260,000,000 Postpetition Credit Agree-
                                    ment among Levitz Furniture Incorporat-
                                    ed, Levitz Furniture Corporation,
                                    Levitz Furniture Realty Corporation,
                                    Levitz Shopping Service, Inc., Levitz
                                    Furniture Company of the Midwest, Inc.,
                                    Levitz Furniture Company of the Pacif-
                                    ic, Inc., Levitz Furniture Company of
                                    Washington, Inc., Levitz Furniture Com-
                                    pany of the Midwest Realty, Inc.,
                                    Levitz Furniture Company of the Pacific
                                    Realty, Inc., Levitz Furniture Company
                                    of Washington Realty, Inc., John M.
                                    Smyth Company and John M. Smyth Realty
                                    Company, Debtors and Debtors in Posses-
                                    sion, as Borrowers, The Financial In-
                                    stitutions from time to time parties
                                    thereto, as Lenders, with Levitz Furni-
                                    ture Corporation, as LFC Funds Adminis-
                                    trator and, BT Commercial Corporation,
                                    as Agent, dated as of September 5,
                                    1997.

         99.2                       Interim Order (I) Authorizing a Secured
                                    Post-Petition Financing on a Super Pri-
                                    ority Basis Pursuant to 11 U.S.C.ss. 363
                                    and 364, (II) Granting of Adequate Pro-
                                    tection Pursuant to 11 U.S.C.ss. 364 and
                                    (III) Scheduling A Final Hearing pursu-
                                    ant to Bankruptcy Rule 4001(C), ap-
                                    proved on September 8, 1997.

         99.3                       Second Amended and Restated Account
                                    Purchase And Credit Card Program Agree-
                                    ment by and among Levitz Furniture Cor-
                                    poration, Levitz Furniture Company of
                                    the Midwest, Inc., Levitz Furniture
                                    Company of the Pacific, Inc., Levitz
                                    Furniture Company of Washington, Inc.,
                                    Levitz Shopping Service, Inc., John M.
                                    Smyth Company and General Electric Cap-
                                    ital Corporation, dated September 5,
                                    1997.

                                       5
99.4                       Order Pursuant to Bankruptcy Code Sec-
                                    tions 105, 363 and 365 Authorizing the
                                    Debtors to Sell Accounts and Assume
                                    Second Amended and Restated Account
                                    Purchase and Credit Card Program Agree-
                                    ment, approved on September 8, 1997.

         99.5                       Press release issued by Levitz Furni-
                                    ture Incorporated on September 5, 1997.

                                        6
SIGNATURES

                  Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.

                                            LEVITZ FURNITURE INCORPORATED

                                            By /S/ EDWARD P. ZIMMER
                                               --------------------------------
                                                   Edward P. Zimmer
                                                   Vice President

Date:  September 12, 1997
SIGNATURES

                  Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.

                                            LEVITZ FURNITURE CORPORATION

                                            By /S/ EDWARD P. ZIMMER
                                               -------------------------------- 
                                                   Edward P. Zimmer
                                                   Vice President

Date:  September 12, 1997
INDEX TO EXHIBITS

         EXHIBIT
         NUMBER                                      EXHIBIT
         ------                                      -------

         99.1                       $260,000,000 Postpetition Credit Agree-
                                    ment among Levitz Furniture Incorporat-
                                    ed, Levitz Furniture Corporation,
                                    Levitz Furniture Realty Corporation,
                                    Levitz Shopping Service, Inc., Levitz
                                    Furniture Company of the Midwest, Inc.,
                                    Levitz Furniture Company of the Pacif-
                                    ic, Inc., Levitz Furniture Company of
                                    Washington, Inc., Levitz Furniture Com-
                                    pany of the Midwest Realty, Inc.,
                                    Levitz Furniture Company of the Pacific
                                    Realty, Inc., Levitz Furniture Company
                                    of Washington Realty, Inc., John M.
                                    Smyth Company and John M. Smyth Realty
                                    Company, Debtors and Debtors in Posses-
                                    sion, as Borrowers, The Financial In-
                                    stitutions from time to time parties
                                    thereto, as Lenders, with Levitz Furni-
                                    ture Corporation, as LFC Funds Adminis-
                                    trator and, BT Commercial Corporation,
                                    as Agent, dated as of September 5,
                                    1997.

         99.2                       Interim Order (I) Authorizing a Secured
                                    Post-Petition Financing on a Super Pri-
                                    ority Basis Pursuant to 11 U.S.C.ss. 363
                                    and 364, (II) Granting of Adequate Pro-
                                    tection Pursuant to 11 U.S.C.ss. 364 and
                                    (III) Scheduling A Final Hearing pursu-
                                    ant to Bankruptcy Rule 4001(C), ap-
                                    proved on September 8, 1997.

         99.3                       Second Amended and Restated Account
                                    Purchase And Credit Card Program Agree-
                                    ment by and among Levitz Furniture Cor-
                                    poration, Levitz Furniture Company of
                                    the Midwest, Inc., Levitz Furniture
                                    Company of the Pacific, Inc., Levitz
                                    Furniture Company of Washington, Inc.,
                                    Levitz Shopping Service, Inc., John M.
                                    Smyth Company and General Electric Cap-
ital Corporation, dated September 5,
                                    1997.

         99.4                       Order Pursuant to Bankruptcy Code Sec-
                                    tions 105, 363 and 365 Authorizing the
                                    Debtors to Sell Accounts and Assume
                                    Second Amended and Restated Account
                                    Purchase and Credit Card Program Agree-
                                    ment, approved on September 8, 1997.

         99.5                       Press release issued by Levitz Furni-
                                    ture Incorporated on September 5, 1997.