UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D
 
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
 
BPW Acquisition Corp.
(Name of Issuer)
 
Common Stock
(Title of Class of Securities)
 
055637102
(CUSIP Number)
 
Alexander H. McMillan, Esq.
c/o Loeb Partners Corporation
61 Broadway, New York, N.Y. 10006 (212) 483-7047
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
 
February 2, 2010
(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§240,13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [  ]
 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

CUSIP No.
055637102
   
1. Name of Reporting Person
Loeb Arbitrage Management LP
   
I.R.S. Identification No. of Above Person
 
   
2. Check the Appropriate Box if a Member of a Group
(a) [X]
 
(b) [  ]
   
3. SEC Use Only
 
   
4. Source of Funds
WC, OO
   
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[  ]
   
6. Citizenship or Place of Organization
Delaware
 
Number of Shares Beneficially Owned by Each Reporting Person With
   
7. Sole Voting Power
-0-
   
8. Shared Voting Power
180,824
   
9. Sole Dispositive Power
-0-
   
10. Shared Dispositive Power
180,824
   
11. Aggregate Amount of Beneficially Owned by Each Reporting Person
180,824
   
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[  ]
   
13. Percent of Class Represented by Amount in Row (11)
0.44%
   
14. Type of Reporting Person
IA
   



CUSIP No.
055637102
   
1. Name of Reporting Person
Loeb Arbitrage Fund
   
I.R.S. Identification No. of Above Person
 
   
2. Check the Appropriate Box if a Member of a Group
(a) [X]
 
(b) [  ]
   
3. SEC Use Only
 
   
4. Source of Funds
WC, OO
   
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[  ]
   
6. Citizenship or Place of Organization
New York
 
Number of Shares Beneficially Owned by Each Reporting Person With
   
7. Sole Voting Power
1,346,393
   
8. Shared Voting Power
-0-
   
9. Sole Dispositive Power
1,346,393
   
10. Shared Dispositive Power
-0-
   
11. Aggregate Amount of Beneficially Owned by Each Reporting Person
1,346,393
   
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[  ]
   
13. Percent of Class Represented by Amount in Row (11)
3.27%
   
14. Type of Reporting Person
PN
   



CUSIP No.
055637102
   
1. Name of Reporting Person
Loeb Offshore Fund Ltd.
   
I.R.S. Identification No. of Above Person
 
   
2. Check the Appropriate Box if a Member of a Group
(a) [X]
 
(b) [  ]
   
3. SEC Use Only
 
   
4. Source of Funds
WC, OO
   
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[  ]
   
6. Citizenship or Place of Organization
Cayman Islands
 
Number of Shares Beneficially Owned by Each Reporting Person With
   
7. Sole Voting Power
170,636
   
8. Shared Voting Power
-0-
   
9. Sole Dispositive Power
170,636
   
10. Shared Dispositive Power
-0-
   
11. Aggregate Amount of Beneficially Owned by Each Reporting Person
170,636
   
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[  ]
   
13. Percent of Class Represented by Amount in Row (11)
0.41%
   
14. Type of Reporting Person
CO
   




CUSIP No.
055637102
   
1. Name of Reporting Person
Loeb Marathon Fund LP
   
I.R.S. Identification No. of Above Person
 
   
2. Check the Appropriate Box if a Member of a Group
(a) [X]
 
(b) [  ]
   
3. SEC Use Only
 
   
4. Source of Funds
WC, OO
   
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[  ]
   
6. Citizenship or Place of Organization
Delaware
 
Number of Shares Beneficially Owned by Each Reporting Person With
   
7. Sole Voting Power
146,520
   
8. Shared Voting Power
-0-
   
9. Sole Dispositive Power
146,520
   
10. Shared Dispositive Power
-0-
   
11. Aggregate Amount of Beneficially Owned by Each Reporting Person
146,520
   
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[  ]
   
13. Percent of Class Represented by Amount in Row (11)
0.36%
   
14. Type of Reporting Person
PN
   




CUSIP No.
055637102
   
1. Name of Reporting Person
Loeb Marathon Offshore Fund, Ltd.
   
I.R.S. Identification No. of Above Person
 
   
2. Check the Appropriate Box if a Member of a Group
(a) [X]
 
(b) [  ]
   
3. SEC Use Only
 
   
4. Source of Funds
WC, OO
   
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[  ]
   
6. Citizenship or Place of Organization
Cayman Islands
 
Number of Shares Beneficially Owned by Each Reporting Person With
   
7. Sole Voting Power
59,852
   
8. Shared Voting Power
-0-
   
9. Sole Dispositive Power
59,852
   
10. Shared Dispositive Power
-0-
   
11. Aggregate Amount of Beneficially Owned by Each Reporting Person
59,852
   
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[  ]
   
13. Percent of Class Represented by Amount in Row (11)
0.15%
   
14. Type of Reporting Person
CO
   



CUSIP No.
055637102
   
1. Name of Reporting Person
Loeb Asia Fund LP
   
I.R.S. Identification No. of Above Person
 
   
2. Check the Appropriate Box if a Member of a Group
(a) [X]
 
(b) [  ]
   
3. SEC Use Only
 
   
4. Source of Funds
WC, OO
   
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[  ]
   
6. Citizenship or Place of Organization
Delaware
 
Number of Shares Beneficially Owned by Each Reporting Person With
   
7. Sole Voting Power
-0-
   
8. Shared Voting Power
-0-
   
9. Sole Dispositive Power
-0-
   
10. Shared Dispositive Power
-0-
   
11. Aggregate Amount of Beneficially Owned by Each Reporting Person
-0-
   
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[  ]
   
13. Percent of Class Represented by Amount in Row (11)
0%
   
14. Type of Reporting Person
PN
   



Item 1.
Security and Issuer
   
The title and class of equity security to which this Statement relates is the Common Stock (the “Common Stock”), of BPW Acquisition Corp. The address of the Issuer’s principal executive offices is 750 Washington Boulevard, Stamford, CT 06901.
   
Item 2.
Identity and Background
   
All entities referenced herein are located at 61 Broadway, New York, New York 10006 and are investment partnerships or investment advisors. Loeb Arbitrage Fund (“LAF”) is a New York limited partnership. Loeb Marathon Fund LP (“LMF”) and Loeb Asia Fund LP (“LA”) are Delaware limited partnerships. Loeb Arbitrage Management LP (“LAM”), a Delaware limited partnership, registered investment adviser, is the investment manager of LAF, LMF and LA.  LAM’s President and Chief Executive Officer is Gideon J. King. The other officers include Thomas L. Kempner, Chairman of the Board; Alexander H. McMillan, Vice President and Secretary; and David S. Hampson, Chief Financial Officer.  Loeb Offshore Fund, Ltd. (“LOF”) and Loeb Marathon Offshore Fund, Ltd. (“LMOF”) are each a Cayman Islands exempted company. Loeb Offshore Management LP (“LOM”) is a Delaware limited partnership, a registered investment adviser and is wholly owned by Loeb Holding Corporation. It is the investment adviser of LOF and LMOF. Gideon J. King, Thomas L. Kempner and David S. Hampson are Directors of LOF and LMOF.  Gideon J. King and Thomas L. Kempner are the Managers of LOM.  LAM and LOM jointly do business as Loeb Capital Management.  Loeb Holding Corporation (“LHC”), a Maryland corporation, is the sole stockholder of LAM and LOM. Thomas L. Kempner is the President, Chief Executive Officer, director and majority stockholder of LHC. Bruce L. Lev, Norman N. Mintz and Peter A. Tcherepnine are also directors. All of the individuals named in this Item 2 are United States citizens. None of the entities or individuals named in this Item 2 have been, within the last five years, convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding been or are 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 violations with respect to such laws.



   
Item 3.
Source and Amount of Funds or Other Compensation
   
Shares of Common Stock were acquired by LAF, LAM**, LOF, LMF, LA and LMOF in margin accounts maintained with J.P. Morgan Securities Corp.
 
Item 4.
Purpose of Transaction
   
LAF, LAM**, LOF, LMF, LA and LMOF (“Loeb”) have acquired shares of Common Stock for investment purposes. Loeb reserves the right, consistent with applicable law, to acquire additional securities of the Issuer (whether through open market purchases, block trades, private acquisitions, tender or exchange offers or otherwise).
 
Loeb intends to review its investment in the Issuer on a continuing basis and may engage in discussions with management or the Board of Directors of the Issuer concerning the business and future plans of the Issuer. Depending on various factors, including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Common Stock of the Issuer, conditions in the securities markets and general economic and industry conditions, Loeb may in the future take such actions with respect to its investment in the Issuer as it deems appropriate including, without limitation, seeking Board representations, making proposals to the Issuer concerning the capitalization of the Issuer, purchasing additional Common Stock and other securities of the Issuer, selling some or all of its Common Stock, engaging in short selling of or any hedging or similar transaction with respect to the Common Stock of the Issuer or changing its intention partially or entirely with respect to any and all matters referred to in Item 4.
   
Item 5.
Interest in Securities of the Issuer
     
 
(a)
The persons reporting hereby own the following shares of Common Stock as of February 10, 2010.
   
 
Shares of Common Stock
Voting Power
Dispositive Power
Sole
Shared
Sole
Shared
Loeb Arbitrage Fund
1,346,393
1,346,393
-0-
1,346,393
-0-
Loeb Arbitrage Management, LP**
180,824
-0-
180,824
-0-
180,824
Loeb Offshore Fund Ltd.
170,636
170,636
-0-
170,636
-0-
Loeb Marathon Fund, LP
146,520
146,520
-0-
146,520
-0-
Loeb Marathon Offshore Fund, Ltd.
59,852
59,852
-0-
59,852
-0-
Loeb Asia Fund LP
-0-
-0-
-0-
-0-
-0-
   
Total
1,904,225

The total shares of Common Stock constitute 4.62% of the 41,176,471 outstanding shares of Common Stock as reported by the Issuer.
**Including shares of Common Stock purchased for the accounts of customers of Loeb Arbitrage Management LP as to which it has investment discretion.

   
(b)
See paragraph (a) above.
       
   
(c)
The following purchases and sales (-) of Common Stock have been made since the last filing:
 
   
Purchases and Sales of Common Stock
   
   
Date
Shares
Average Price
 
 
Loeb Arbitrage Management LP
01/04/10
43274
10.5901
 
   
01/12/10
-1427
10.773
 
   
01/27/10
-2000
10.5703
 
   
01/28/10
-1042
10.515
 
   
01/29/10
-18356
10.3493
 
   
02/01/10
-1600
10.35
 
   
02/02/10
-11380
10.403
 
   
02/03/10
-2586
10.2707
 
   
02/03/10
-2749
10.27
 
   
02/08/10
-18577
10.17
 
   
02/10/10
-475
10.05
 
           
   
Date
Shares
Average Price
 
 
Loeb Arbitrage Fund
01/12/10
-9885
10.773
 
   
01/27/10
-13430
10.5703
 
   
01/28/10
-6995
10.515
 
   
01/29/10
-123283
10.3493
 
   
02/02/10
-77003
10.403
 
   
02/03/10
-17501
10.2707
 
   
02/03/10
-15597
10.27
 
   
02/08/10
-5467
10.17
 
   
02/10/10
-3535
10.05
 
         
 
Date
Shares
Average Price
 
Loeb Offshore Fund, Ltd.
01/04/10
34634
10.5901
 
 
01/11/10
14500
10.87
 
 
01/12/10
-918
10.773
 
 
01/27/10
-1709
10.5703
 
 
01/28/10
-890
10.515
 
 
01/29/10
-15688
10.3493
 
 
02/02/10
-9799
10.403
 
 
02/03/10
-2227
10.2707
 
 
02/03/10
-2223
10.27
 
 
02/08/10
-1156
10.17
 
 
02/10/10
-448
10.05
 
         
 
Date
Shares
Average Price
 
Loeb Marathon Fund LP
12/31/09
9000
10.5
 
 
01/04/10
14349
10.5901
 
 
01/12/10
-843
10.773
 
 
01/27/10
-1463
10.5703
 
 
01/28/10
-762
10.515
 
 
01/29/10
-13433
10.3493
 
 
02/02/10
-8391
10.403
 
 
02/03/10
-1907
10.2707
 
 
02/03/10
-1904
10.27
 
 
02/08/10
-576
10.17
 
 
02/10/10
-385
10.05
 
         
 
Date
Shares
Average Price
 
Loeb Marathon Offshore Fund, Ltd.
12/31/09
189
10.5
 
 
01/04/10
7743
10.5901
 
 
01/07/10
7169
10.7955
 
 
01/12/10
-627
10.773
 
 
01/27/10
-598
10.5703
 
 
01/28/10
-311
10.515
 
 
01/29/10
-5486
10.3493
 
 
02/02/10
-3427
10.403
 
 
02/03/10
-779
10.2707
 
 
02/03/10
-777
10.27
 
 
02/08/10
-224
10.17
 
 
02/10/10
-157
10.05
 
         
 
Date
Shares
Average Price
 
Loeb Asia Fund LP
02/01/10
2500
10.3024
 
 
02/02/10
1000
10.4
 
 
02/03/10
-1750
10.27
 
 
02/04/10
-1750
10.19
 
 
02/05/10
2500
10.2
 
 
02/08/10
-2500
10
 

All reported transactions were effected on NYSE.

 
(d)
Not Applicable.
     
 
(e)
Not Applicable.
 

Item 6.
Contracts, Arrangement, Understandings or Relationships with Respect to the Issuer.
   
 
None.
   
Item 7.
Materials to be Filed as Exhibits.
   
 
None.
 
 

Signature

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 

   
LOEB ARBITRAGE MANAGEMENT LP
     
     
Date:  February 12, 2010
 
By:_ /s/ Alexander H. McMillan
   
Alexander H. McMillan
   
Vice President
     
   
LOEB ARBITRAGE FUND
   
By: LOEB ARBITRAGE MANAGEMENT LP, G.P.
     
     
Date: February 12, 2010
 
By:_ /s/ Alexander H. McMillan
   
Alexander H. McMillan
   
Vice President
     
   
LOEB OFFSHORE FUND LTD.
     
     
Date: February 12, 2010
 
By:_ /s/ Alexander H. McMillan
   
Alexander H. McMillan
   
Vice President
     
   
LOEB MARATHON FUND LP
   
By: LOEB ARBITRAGE MANAGEMENT LP, G.P.
     
     
Date: February 12, 2010
 
By:_ /s/ Alexander H. McMillan
   
Alexander H. McMillan
   
Vice President
     
   
LOEB MARATHON OFFSHORE FUND, LTD.
     
     
     
Date: February 12, 2010
 
By:_ /s/ Alexander H. McMillan
   
Alexander H. McMillan
   
Vice President
     
   
LOEB ASIA FUND LP
   
By: LOEB ARBITRAGE MANAGEMENT LP, G.P.
     
     
Date: February 12, 2010
 
By:_ /s/ Alexander H. McMillan
   
Alexander H. McMillan
   
Vice President


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