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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): April 30, 2009</B>


<P style="font-size: 24pt" align="center"><B>TANDY BRANDS ACCESSORIES,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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  <TD width="32%">&nbsp;</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>0-18927</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>75-2349915</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>690 East Lamar
Blvd.,<BR>
Suite 200<BR>
Arlington, Texas<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>76011</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(817) 548-0090</B>
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  <TD style="border-bottom: #000000 1px solid" nowrap><B>N/A<BR>
</B></TD>
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 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

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<P style="font-size: 10pt" align="left">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:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>



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<P style="font-size: 10pt" align="justify"><B>Item&nbsp;1.01
Entry Into a Material Definitive Agreement.</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">As of
February&nbsp;12, 2008, Tandy Brands Accessories, Inc. (the
&#8220;<U>Company</U>&#8221;) entered into a credit agreement with Comerica
Bank (the &#8220;<U>Lender</U>&#8221;) providing terms and conditions governing
certain loans and other credit accommodations extended by the Lender to the
Company (together with all addenda, exhibits and schedules, the
&#8220;<U>Credit Agreement</U>&#8221;). On April&nbsp;30, 2009, the Company and
the Lender entered into Amendment No.&nbsp;1 to Credit Agreement (the
&#8220;<U>Amendment</U>&#8221;) to, among other things (i)&nbsp;decrease the
revolving credit commitment from a maximum of $35&nbsp;million to a maximum of
$27.5&nbsp;million, (ii)&nbsp;decrease the tangible net worth requirement, and
(iii)&nbsp;modify the unused commitment fee. In addition, borrowings under the
Credit Agreement, as amended by the Amendment, will bear interest at the daily
adjusting one month LIBOR rate plus 4.5%, or, if such rate is not available
under the terms of the Master Revolving Note, the Lender&#8217;s prime rate
plus 4.5%. The Amendment is effective as of March&nbsp;31, 2009.

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<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">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 hereunto duly
authorized.

<P style="font-size: 10pt; margin-left: 46%" align="justify"><B>TANDY BRANDS
ACCESSORIES, INC.</B>

<P style="font-size: 10pt" align="justify">Date: May&nbsp;1, 2009

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 46%"
align="justify">By: <U>/s/ M.C.
Mackey&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>M.C. Mackey<BR>
Chief Financial Officer

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<P style="display: none; font-size: 10pt" align="center">3
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{"company-data": {"conformed-name": "TANDY BRANDS ACCESSORIES INC", "cik": "0000869487", "assigned-sic": "2300", "irs-number": "752349915", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18927", "film-number": "09790288"}, "business-address": {"street1": "690 E LAMAR BLVD STE 200", "city": "ARLINGTON", "state": "TX", "zip": "76011", "phone": "8172654113"}, "mail-address": {"street1": "690 E LAMAR BLVD", "city": "ARLINGTON", "state": "TX", "zip": "76011"}}
Form 8-K
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): April 30, 2009
TANDY BRANDS ACCESSORIES,
INC.
(Exact name of registrant as
specified in its charter)
Delaware
0-18927
75-2349915
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
690 East Lamar
Blvd.,
Suite 200
Arlington, Texas
76011
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(817) 548-0090
N/A
(Former name or former address if changed since last report.)
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:
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 1.01
Entry Into a Material Definitive Agreement.
As of
February 12, 2008, Tandy Brands Accessories, Inc. (the
"
Company
") entered into a credit agreement with Comerica
Bank (the "
Lender
") providing terms and conditions governing
certain loans and other credit accommodations extended by the Lender to the
Company (together with all addenda, exhibits and schedules, the
"
Credit Agreement
"). On April 30, 2009, the Company and
the Lender entered into Amendment No. 1 to Credit Agreement (the
"
Amendment
") to, among other things (i) decrease the
revolving credit commitment from a maximum of $35 million to a maximum of
$27.5 million, (ii) decrease the tangible net worth requirement, and
(iii) modify the unused commitment fee. In addition, borrowings under the
Credit Agreement, as amended by the Amendment, will bear interest at the daily
adjusting one month LIBOR rate plus 4.5%, or, if such rate is not available
under the terms of the Master Revolving Note, the Lender's prime rate
plus 4.5%. The Amendment is effective as of March 31, 2009.
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 hereunto duly
authorized.
TANDY BRANDS
ACCESSORIES, INC.
Date: May 1, 2009
By:
/s/ M.C.
Mackey
M.C. Mackey
Chief Financial Officer