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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
Amendment No. 1
Under the Securities Exchange Act of 1934
G-III Apparel Group Ltd.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
36237H101
-------------------------------------
(CUSIP Number)
Joshua Landes, Wynnefield Partners Small Cap Value, L.P.
One Penn Plaza, Suite 4720, New York, New York 10119, (212) 760-0814
and
Jesse R. Meer, Esq.
Berlack, Israels & Liberman LLP, 120 West 45th Street, New York, N.Y. 10036,
(212) 704-0100
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Persons Authorized to Receive Notices
and Communications)
December 29, 1998
-------------------------------------------------------------
(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 Rule 13d-I(b)(3) or (4), check the following box |_|.
Check the following box if a fee is being paid with the statement |_|. (A fee is
not required only if the reporting person (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
(Page 1 of 7 Pages)
Amendment No. 1 to SCHEDULE 13D
CUSIP No. 36237H101 Page 2 of 7 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS: Wynnefield Partners Small Cap Value, L.P.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON: 13-3688497
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
WC
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF 88,660
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
None
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 88,660
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
None
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
88,660 shares
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1,358
________________________________________________________________________________
14 TYPE OF REPORTING PERSON
PN
________________________________________________________________________________
(Page 2 of 7 Pages)
Amendment No. 1 to SCHEDULE 13D
CUSIP No. 36237H101 Page 3 of 7 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P. I
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON: 13-3953291
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
WC
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF 61,072
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
None
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 61,072
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
None
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
61,072 shares
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.936
________________________________________________________________________________
14 TYPE OF REPORTING PERSON
PN
________________________________________________________________________________
(Page 3 of 7 Pages)
Amendment No. 1 to SCHEDULE 13D
CUSIP No. 36237H101 Page 4 of 7 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value Offshore
Fund, Ltd.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON: Not Applicable
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
WC
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF 13,100
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
None
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 13,100
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
None
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,100 shares
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.201
________________________________________________________________________________
14 TYPE OF REPORTING PERSON
CO
________________________________________________________________________________
(Page 4 of 7 Pages)
Amendment No. 1 to SCHEDULE 13D
CUSIP No. 36237H101 Page 5 of 7 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSON: Channel Partnership II
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON: 22-3215653
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS
WC
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF 7,100
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
None
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 7,100
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
None
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,100 shares
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.109
________________________________________________________________________________
14 TYPE OF REPORTING PERSON
PN
________________________________________________________________________________
(Page 5 of 7 Pages)
AMENDMENT NO. 1 TO SCHEDULE 13D
Item 1. Security and Issuer.
This statement relates to shares of the common stock, par value $.001 per
share, of G-III Apparel Group Ltd. (the "Issuer"). The Issuer's principal
executive offices are located at 345 West 37th Street, New York, New York 10018.
Item 2. Identity and Background.
This statement is being filed by Wynnefield Partners Small Cap Value, L.P.
("Wynnefield") and Wynnefield Partners Small Cap Value, L.P. I ("Wynnefield-I"),
limited partnerships formed under the laws of the State of Delaware (the
"Partnerships"), Wynnefield Small Cap Value Offshore Fund, Ltd., a Cayman
Islands corporation (the "Fund"), and Channel Partnership II, a Delaware
partnership ("Channel"), collectively referred to herein as the "Wynnefield
Entities". The principal business of the Wynnefield Entities is investments, and
the address of their principal offices is One Penn Plaza, Suite 4720, New York,
New York 10119.
Nelson Obus, Joshua Landes and Robert Melnick are the managing members of
Wynnefield Capital Management, LLC ("WCM"), the general partner of the
Partnerships, and their principal business address is the same as the
Partnerships'. The principal occupations of Messrs. Obus, Landes and Melnick are
to manage the investments of the Wynnefield Entities. They are also officers of
the Fund and partners of Channel.
During the past five years, neither the Partnerships, the Fund, Channel,
WCM, Mr. Obus, Mr. Landes nor Mr. Melnick (a) has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or (b) has
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction, as a result of which it or he was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
Messrs. Obus, Landes and Melnick are citizens of the United States.
Item 3. Source and Amount of Fund or Other Consideration.
The 169,932 shares of the Issuer held by the Wynnefield Entities were
purchased for cash, which was provided from the working capital of each of the
Wynnefield Entities.
Item 4. Purpose of Transaction.
All 169,932 shares of the Issuer held by the Wynnefield Entities were
purchased for investment.
Item 5. Interest in Securities of the Issuer.
The shares of the Issuer held by the Wynnefield Entities reflect the
following transactions during the 60 days immediately preceding the date of this
amended statement: On December 28, 1998, the Fund purchased 3,000 shares for
$1.675 each. On December 29, 1998, the Wynnefield Entities sold a total of
270,000 shares of the Issuer, namely, 172,000 shares were sold by Wynnefield,
64,000 shares were sold by Wynnefield-I, 26,000 shares were sold by the Fund,
and 8,000 shares were sold by Channel, for $8.8258 each.
The 169,932 shares of the Issuer held by the Wynnefield Entities, after
giving effect to the December 1998 transactions described in the preceding
paragraph, are owned as follows: Wynnefield owns 88,660 shares,
(Page 6 of 7 Pages)
Wynnefield-I owns 61,072 shares, the Fund owns 13,100 shares, and Channel owns
7,100 shares. Such 169,932 shares represent approximately 2.604% of the common
stock of the Issuer outstanding as of October 31, 1998, based on the Issuer's
most recent quarterly report on Form 10-Q. Accordingly, after this amended
statement is filed, the Wynnefield Entities will no longer be required to report
their purchases and sales of the Issuer's shares under Section 13 (d) of the
Securities Exchange Act of 1934, as amended, unless subsequent purchases bring
their collective holdings over the 5% threshold.
Messrs. Obus, Landes and Melnick, the managing members of WCM (the general
partner of the Partnerships), the officers of the Fund and the partners of
Channel have the sole power to vote, or to direct the vote, or to direct the
sale or other disposition of, the shares held by the Wynnefield Entities. In
such capacities, Messrs. Obus, Landes and Melnick have the sole power to receive
or to direct the receipt of the proceeds from the sale of the shares, or any
dividends paid with respect to the shares held by the Wynnefield Entities.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
Neither the Wynnefield Entities, WCM, Mr. Obus, Mr. Landes nor Mr. Melnick
has any contracts, arrangements, understandings or relationships (legal or
otherwise) with respect to the shares of the Issuer. None of such shares is
pledged or otherwise subject to a contingency, the occurrence of which would
give another person voting or investment power over them.
Item 7. Material to be Filed as Exhibits.
None
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this amended statement is true,
complete and correct.
January 11, 1999
- --------------------------
(Date)
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By Wynnefield Capital Management, LLC
By: /s/ Nelson Obus
-----------------------------------
Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: /s/ Nelson Obus
-----------------------------------
Authorized Officer
CHANNEL PARTNERSHIP II
By: /s/ Nelson Obus
-----------------------------------
General Partner
(Page 7 of 7 Pages)