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): December 14,
2009
AMERICAN CONSUMERS,
INC.
(Exact
name of registrant as specified in its charter)
|
Georgia
|
0-5815
|
58-1033765
|
|
(State
or other
jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(I.R.S.
Employer
Identification
No.)
|
55 Hannah Way,
Rossville,
Georgia 30741
(Address
of principal executive
offices) (zip
code)
Registrant’s
telephone number, including area code: (706) 861-3347
| 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 (see General Instruction A.2. below):
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
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.
|
On
December 14, 2009, American Consumers, Inc. (the “Company” or “ACI”) and Gateway
Bank and Trust Company (the “Lender”) entered into a letter agreement, pursuant
to which the Lender agreed to irrevocably waive any default or event of default,
as well as any right to cease making loan advances or disbursing loan proceeds
under any of the Company’s credit arrangements with the Lender, arising from or
in connection with the death on November 20, 2009 of Michael A. Richardson, the
Company’s former Chairman of the Board, President and Chief Executive Officer,
who also was a personal guarantor on all of the Company’s credit arrangements
with the Lender. The foregoing description of the letter agreement is
qualified by reference to the full text of the document, which is filed as an
exhibit to this report.
| Item 9.01 |
Financial Statements and
Exhibits.
|
| (d) | Exhibits |
|
Exhibit Number
|
Description
|
|
10.55
|
Letter
Agreement, dated as of December 14, 2009, between the Company and Gateway
Bank and Trust Company, Concerning Waiver of any Default Resulting from
Death of Guarantor.
|
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.
| AMERICAN CONSUMERS, INC. | |||
|
Date: December
16, 2009
|
By:
|
/s/ Paul R. Cook | |
| Paul R. Cook | |||
| Chief Executive Officer | |||
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