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LEVITZ FURNITURE INCORPORATED AND LEVITZ FURNITURE CORPORATION FILE REGISTRATION STATEMENT

 BOCA RATON, Fla., April 23 /PRNewswire/ -- Levitz Furniture Incorporated ("LFI"), formerly known as LFC Holding Corporation, and Levitz Furniture Corporation ("LFC") announced today that they have filed a joint registration statement with the Securities and Exchange Commission relating to the initial public offering of 13 million shares of LFI's common stock and the offering of $85 million principal amount of LFC's Senior Subordinated Notes due 2003. All of the shares of LFI's common stock are being sold for the benefit of LFI.
 The net proceeds to LFI from the sale of the common stock will be used to fund a tender offer to purchase all of LFI's outstanding Senior Deferred Coupon Debentures due 2002 and to redeem all shares of LFI's Cumulative Exchangeable Variable Rate Preferred Stock. The net proceeds to LFC from the sale of the notes, together with borrowings under a bank credit agreement, will be used to redeem LFC's 12-7/8 percent Subordinated Notes due 1997.
 Morgan Stanley & Co. Incorporated, Donaldson, Lufkin & Jenrette Securities Corporation, Alex. Brown & Sons Incorporated and The First Boston Corporation will be the co-managers of an underwriting syndicate offering the common stock to the public. Donaldson, Lufkin & Jenrette Securities Corporation will be the managing underwriter offering the notes to the public and the dealer-manager for the tender offer for the Deferred Debentures. LFI intends to apply for listing of its common stock on the New York Stock Exchange upon completion of the proposed offering.
 LFI, through its wholly owned subsidiary LFC, is the largest specialty retailer of furniture in the United States with a chain of 67 warehouse-showrooms and 51 satellite stores located in major metropolitan areas in 25 states.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release of information shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities iy? state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 4/23/93
 /CONTACT: Patrick J. Nolan of Levitz Furniture Corporation, 407-994-6006/


CO: Levitz Furniture Incorporated; Levitz Furniture Corporation ST: Florida IN: HOU SU: OFR

JB-AW -- FL005 -- 0009 04/23/93 11:35 EDT
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Publication:PR Newswire
Date:Apr 23, 1993
Words:409
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