<HTML>
<HEAD>
     <!-- Created by EDGAR Ease Plus (EDGAR Ease+ 1.6a) -->
     <!-- Project:        I:\CONVER\ny13189.eep                                            -->
     <!-- Control Number: ny13189                                                          -->
     <!-- Rev Number:     88360/1                                                          -->
     <!-- Client Name:    Friedman's Inc.                                                  -->
     <!-- Project Name:   8K                                                               -->
     <!-- Firm Name:      Mark A. Mikullitz                                                -->
     <TITLE>Friedman's Inc. 8K</TITLE>
</HEAD>
<BODY>

<!-- MARKER FORMAT-SHEET="Head Center 2 600" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED
STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, D.C. 20549
 </FONT></TD></TR>
</TABLE>
<BR><BR>


<!-- MARKER FORMAT-SHEET="Page Break Table" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><HR SIZE=1 NOSHADE COLOR="BLACK" WIDTH=20%>
</TD></TR></TABLE><BR>
<BR>


<!-- MARKER FORMAT-SHEET="Head Center 2 600" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>FORM
8-K  </FONT></TD></TR>
</TABLE>
<BR><BR>

<!-- MARKER FORMAT-SHEET="Page Break Table" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><HR SIZE=1 NOSHADE COLOR="BLACK" WIDTH=20%>
</TD></TR></TABLE><BR>
<BR>

<!-- MARKER FORMAT-SHEET="Head Center 2 600" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CURRENT
REPORT<BR>PURSUANT TO SECTION 13 OR 15(D) OF THE<BR> SECURITIES EXCHANGE ACT OF 1934  </FONT></TD></TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Center 2 600" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date
of Report (Date of Earliest Event Reported): August 6, 2004 (August 5, 2004) </FONT></TD></TR>
</TABLE>
<BR>


<TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Friedman's Inc.<!-- Name of Registrant --></FONT></TD></TR>
<TR VALIGN="TOP">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Exact Name of Registrant as Specified in its Charter)</FONT></TD></TR>
</TABLE>
<BR>

<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=CENTER WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Delaware<!-- STATE--> </FONT></TD>
<TD ALIGN=CENTER WIDTH=34%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0-22356<!-- FILE NO.--> </FONT></TD>
<TD ALIGN=CENTER WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>58-20583<!-- IRS NO.--> </FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State or Other Jurisdiction<BR>Of Incorporation or Organization)
</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Commission<BR>File Number) </FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>( IRS Employer<BR> Identification No.) </FONT></TD>
</TR>
</TABLE>
<BR><BR>

<BR>
<TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
171 Crossroads Parkway<BR>
Savannah, Georgia 31422
</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"> (Address of principal executive offices)</FONT></TD></TR>
</TABLE>
<BR><BR>

<TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(912) 233-9333</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD WIDTH="600" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Registrant's telephone number, including area code) </FONT></TD></TR>
</TABLE><BR><BR><BR>

<!-- MARKER FORMAT-SHEET="Page Break Table" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><HR SIZE=5 NOSHADE COLOR="BLACK">
</TD></TR></TABLE><BR>



<!-- MARKER FORMAT-SHEET="Head Center 2 600" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>TABLE
OF CONTENTS</U> </FONT></TD></TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Exhibit Index" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=13%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5. </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Other Events and Required FD Disclosure. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Exhibit Index" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=13%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 7. </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Financial Statements, Pro Forma Financial Information and Exhibits.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Left 2 600" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></P></TD></TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Left 2 600" FSL="Default" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES <BR>EXHIBIT
INDEX<BR>PRESS RELEASE </FONT></P></TD></TR>
</TABLE>
<BR>
<BR>
<!-- MARKER FORMAT-SHEET="Page Break Table" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><HR SIZE=5 NOSHADE COLOR="BLACK">
</TD></TR></TABLE><BR>
<BR>


<!-- MARKER FORMAT-SHEET="Exhibit Index" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=13%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5. </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Other Events and Required FD Disclosure. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush Left" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On
August 5, 2004, Friedman&#146;s Inc. (the &#147;Company&#148;) issued a press release
announcing that it has entered into a commitment letter with Farallon Capital Management,
L.L.C., an affiliate of one of the lenders under the Company&#146;s existing secured
credit facility, which could provide as much as $25 to $30 million of additional
availability to the Company under its credit facility. The commitment is subject to the
satisfaction of numerous conditions, including the approval of the lenders under the
Company&#146;s existing secured credit facility; the completion of ongoing due diligence;
negotiation and execution of definitive documentation; and the satisfaction of customary
closing conditions. </FONT></TD></TR></TABLE><BR>

<!-- MARKER FORMAT-SHEET="Para Flush Left" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
commitment provides for a new layer of financing as part of a restructuring of
Friedman&#146;s senior credit facility. As part of the restructuring, the Company is also
seeking to implement a vendor support program which would include a restructuring of
outstanding amounts owed to vendors as well as the restoration of trade terms. The extent
to which the Company will be able to draw upon the full amount of additional availability
under the proposed amended and restated credit facility will depend upon, among other
things, the Company&#146;s ability to enter into vendor support agreements acceptable to
the Company and its lenders. The amended and restated credit facility would provide for
total commitments of $135 million comprised of a $75 million senior revolving loan and a
$60 million junior term loan. </FONT></TD></TR></TABLE><BR>

<!-- MARKER FORMAT-SHEET="Para Flush Left" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Company also reported in the press release that it has deferred most current payments to
vendors over the last sixty days and many key vendors have reduced, delayed or suspended
merchandise shipments to the Company during that time. The Company&#146;s management is
working with its lenders, vendors and other key stakeholders to develop a restructuring
plan which includes the proposed refinancing that should provide adequate liquidity for
the Company and stabilize operations going forward if completed on a timely basis. The
Company also said that, as there is no assurance that this will occur, and in order to
pursue all appropriate paths to maximize the Company&#146;s business value for its
stakeholders, the Company may need to consider alternative restructuring scenarios
including in the context of a judicial reorganization. While the refinancing commitment
letter entered into by the Company is the Company&#146;s preferred path to address the its
liquidity requirements, these other alternative restructuring alternatives will be
explored as necessary on a contingency basis. </FONT></TD></TR></TABLE><BR>

<!-- MARKER FORMAT-SHEET="Para Flush Left" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Company also announced that Peggy Brockschmidt has resigned as a member of the Board of
Directors of the Company. </FONT></TD></TR></TABLE><BR>

<!-- MARKER FORMAT-SHEET="Para Flush Left" FSL="Default" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
text of the press release, which is attached as Exhibit 99.1, is incorporated by reference
into this Item. </FONT></TD></TR></TABLE><BR>

<!-- MARKER FORMAT-SHEET="Exhibit Index" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=13%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 7. </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Financial Statements, Pro Forma Financial Information and Exhibits. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para List Hang 1" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Exhibits.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent 0" FSL="Default" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following exhibits are filed as part of this report: </FONT></TD></TR>
</TABLE>
<BR>




<!-- MARKER FORMAT-SHEET="Exhibit Index" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=BOTTOM>
<TD WIDTH=13%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit<BR> <U>Number</U> </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif"
SIZE=2><U>Description</U> </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Exhibit Index" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=13%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Press release dated August 5, 2004 </FONT></TD>
</TR>
</TABLE>
<BR><BR>

<!-- MARKER FORMAT-SHEET="Page Break Table" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><HR SIZE=5 NOSHADE COLOR="BLACK">
</TD></TR></TABLE><BR>
<BR>

<!-- MARKER FORMAT-SHEET="Head Center 2 600" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></TD></TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent 0" FSL="Default" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities and Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></TD></TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Company Right" FSL="Project" -->
<TABLE WIDTH="600" BORDER="0" CELLSPACING="0" CELLPADDING="0">
  <TR VALIGN="BOTTOM">
    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; <!-- TYPE "DATE:" HERE--> </FONT></TD>
    <TD WIDTH="44%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="48%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
Friedman's Inc.<BR>
(Registrant)
<!-- COMPANY --> </FONT></TD>
  </TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Date By Signature" FSL="Project" -->
<TABLE WIDTH="600" BORDER="0" CELLSPACING="0" CELLPADDING="0">
  <TR VALIGN="BOTTOM">
    <TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date: </FONT></TD>
    <TD WIDTH="39%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">August 5, 2004 <!-- DATE--> </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By: </FONT></TD>
    <TD WIDTH="43%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;/s/ C. Steven Moore<!-- NAME --> </FONT></TD>
  </TR>
  <TR VALIGN="TOP">
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD>&nbsp; </TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD> <HR NOSHADE SIZE="1"> </TD>
  </TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Name Right" FSL="Project" -->
<TABLE WIDTH="600" BORDER="0" CELLSPACING="0" CELLPADDING="0">
  <TR VALIGN="BOTTOM">
    <TD WIDTH="57%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp; </FONT></TD>
    <TD WIDTH="43%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
C. Steven Moore<BR>Chief Administrative Officer<BR>
&nbsp;&nbsp;&nbsp;and General Counsel
</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Page Break Table" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD><HR SIZE=5 NOSHADE COLOR="BLACK">
</TD></TR></TABLE><BR><BR>

<!-- MARKER FORMAT-SHEET="Head Left 2 600" FSL="Project" -->
<TABLE WIDTH=600 CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT INDEX </FONT></P></TD></TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Exhibit Index" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=BOTTOM>
<TD WIDTH=13%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit<BR><U>Number</U> </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<U>Description</U> </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Exhibit Index" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=13%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Press
release dated August 5, 2004 </FONT></TD>
</TR>
</TABLE>
<BR>

</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "s911499.htm", "description": "CURRENT REPORT", "secsgml_size_bytes": 17237}]
{"company-data": {"conformed-name": "FRIEDMANS INC", "cik": "0000911004", "assigned-sic": "5944", "irs-number": "582058362", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31707", "film-number": "04957283"}, "business-address": {"street1": "4 WEST STATE ST", "city": "SAVANNAH", "state": "GA", "zip": "31401", "phone": "9122339333"}, "mail-address": {"street1": "4 W STATE ST", "city": "SAVANNAH", "state": "GA", "zip": "31401"}}
Friedman's Inc. 8K
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): August 6, 2004 (August 5, 2004)
Friedman's Inc.
(Exact Name of Registrant as Specified in its Charter)
Delaware
0-22356
58-20583
(State or Other Jurisdiction
Of Incorporation or Organization)
(Commission
File Number)
( IRS Employer
Identification No.)
171 Crossroads Parkway
Savannah, Georgia 31422
(Address of principal executive offices)
(912) 233-9333
(Registrant's telephone number, including area code)
TABLE
OF CONTENTS
Item 5.
Other Events and Required FD Disclosure.
Item 7.
Financial Statements, Pro Forma Financial Information and Exhibits.
SIGNATURES
EXHIBIT
INDEX
PRESS RELEASE
Item 5.
Other Events and Required FD Disclosure.
On
August 5, 2004, Friedman's Inc. (the "Company") issued a press release
announcing that it has entered into a commitment letter with Farallon Capital Management,
L.L.C., an affiliate of one of the lenders under the Company's existing secured
credit facility, which could provide as much as $25 to $30 million of additional
availability to the Company under its credit facility. The commitment is subject to the
satisfaction of numerous conditions, including the approval of the lenders under the
Company's existing secured credit facility; the completion of ongoing due diligence;
negotiation and execution of definitive documentation; and the satisfaction of customary
closing conditions.
The
commitment provides for a new layer of financing as part of a restructuring of
Friedman's senior credit facility. As part of the restructuring, the Company is also
seeking to implement a vendor support program which would include a restructuring of
outstanding amounts owed to vendors as well as the restoration of trade terms. The extent
to which the Company will be able to draw upon the full amount of additional availability
under the proposed amended and restated credit facility will depend upon, among other
things, the Company's ability to enter into vendor support agreements acceptable to
the Company and its lenders. The amended and restated credit facility would provide for
total commitments of $135 million comprised of a $75 million senior revolving loan and a
$60 million junior term loan.
The
Company also reported in the press release that it has deferred most current payments to
vendors over the last sixty days and many key vendors have reduced, delayed or suspended
merchandise shipments to the Company during that time. The Company's management is
working with its lenders, vendors and other key stakeholders to develop a restructuring
plan which includes the proposed refinancing that should provide adequate liquidity for
the Company and stabilize operations going forward if completed on a timely basis. The
Company also said that, as there is no assurance that this will occur, and in order to
pursue all appropriate paths to maximize the Company's business value for its
stakeholders, the Company may need to consider alternative restructuring scenarios
including in the context of a judicial reorganization. While the refinancing commitment
letter entered into by the Company is the Company's preferred path to address the its
liquidity requirements, these other alternative restructuring alternatives will be
explored as necessary on a contingency basis.
The
Company also announced that Peggy Brockschmidt has resigned as a member of the Board of
Directors of the Company.
The
text of the press release, which is attached as Exhibit 99.1, is incorporated by reference
into this Item.
Item 7.
Financial Statements, Pro Forma Financial Information and Exhibits.
(c)
Exhibits.
The
following exhibits are filed as part of this report:
Exhibit
Number
Description
99.1
Press release dated August 5, 2004
SIGNATURES
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Friedman's Inc.
(Registrant)
Date:
August 5, 2004
By:
/s/ C. Steven Moore
C. Steven Moore
Chief Administrative Officer
and General Counsel
EXHIBIT INDEX
Exhibit
Number
Description
99.1
Press
release dated August 5, 2004