Volkswagen 8-K 2010
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 26, 2010
G-III APPAREL GROUP, LTD.
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code: (212) 403-0500
(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:
Item 1.01 Entry into a Material Definitive Agreement.
On March 26, 2010, G-III Leather Fashions, Inc. (G-III), a subsidiary of G-III Apparel Group, Ltd., entered into four lease amendment agreements (the Amendments) with 500-512 Seventh Avenue Limited Partnership relating to G-IIIs office and showroom space located at 512 Seventh Avenue in New York City. The Amendments extend the term of the leases with respect to the six floors (an aggregate of approximately 69,000 square feet of office and showroom space) currently leased by G-III so that all of these leases now have a common expiration date of March 31, 2023, with a five year renewal option. In addition, the Amendments add three additional floors with an aggregate of 34,000 square feet of space to the leases with occupancy of the Additional Floors to commence within the next two years and grant G-III options to lease four additional floors in the building. Annual rent under the Amendments is approximately $3.0 million for the fiscal year ending January 31, 2011 and $2.6 million for the fiscal year ending January 31, 2012. Annual rent could increase if G-III were to exercise any of its options for additional floors.
Item 9.01 Financial Statements and Exhibits.
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.