UNITED STATES

SECURITIES & EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No.)*

 

United Retail Group, Inc.

(Name of Issuer)

 

Common Stock, $.001 par value per share

(Title of Class of Securities)

 

911380103

(CUSIP Number)

 

Michael S. Emanuel, 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)

 

September 25, 2007

(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. o

 

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.

911380103

 

 

1. Name of Reporting Person

Loeb Partners Corporation

 

 

I.R.S. Identification No. of Above Person

 

 

 

2. Check the Appropriate Box if a Member of a Group

(a) x

 

(b) o

 

 

3. SEC Use Only

 

 

 

4. Source of Funds

WC, O

 

 

5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

o

 

 

6. Citizenship or Place of Organization

Delaware

 

Number of Shares Beneficially Owned by Each Reporting Person With

 

 

7. Sole Voting Power

19,676

 

 

8. Shared Voting Power

23,382

 

 

9. Sole Dispositive Power

19,676

 

 

10. Shared Dispositive Power

23,382

 

 

11. Aggregate Amount of Beneficially Owned by Each Reporting Person

43,058

 

 

12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares

o

 

 

13. Percent of Class Represented by Amount in Row (11)

0.31%

 

 

14. Type of Reporting Person

BD, IA, CO

 

 

 

CUSIP No.

911380103

 

 

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) o

 

 

3. SEC Use Only

 

 

 

4. Source of Funds

WC, O

 

 

5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

o

 

 

6. Citizenship or Place of Organization

New York

 

Number of Shares Beneficially Owned by Each Reporting Person With

 

 

7. Sole Voting Power

400,080

 

 

8. Shared Voting Power

-0-

 

 

9. Sole Dispositive Power

400,080

 

 

10. Shared Dispositive Power

-0-

 

 

11. Aggregate Amount of Beneficially Owned by Each Reporting Person

400,080

 

 

12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares

o

 

 

13. Percent of Class Represented by Amount in Row (11)

2.86%

 

 

14. Type of Reporting Person

BD, PN

 

 

 

CUSIP No.

911380103

 

 

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) o

 

 

3. SEC Use Only

 

 

 

4. Source of Funds

WC, O

 

 

5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

o

 

 

6. Citizenship or Place of Organization

Cayman Islands

 

Number of Shares Beneficially Owned by Each Reporting Person With

 

 

7. Sole Voting Power

97,971

 

 

8. Shared Voting Power

-0-

 

 

9. Sole Dispositive Power

97,971

 

 

10. Shared Dispositive Power

-0-

 

 

11. Aggregate Amount of Beneficially Owned by Each Reporting Person

97,971

 

 

12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares

o

 

 

13. Percent of Class Represented by Amount in Row (11)

0.70%

 

 

14. Type of Reporting Person

CO

 

 

 

CUSIP No.

911380103

 

 

1. Name of Reporting Person

Loeb Arbitrage B Fund LP

 

 

I.R.S. Identification No. of Above Person

 

 

 

2. Check the Appropriate Box if a Member of a Group

(a) x

 

(b) o

 

 

3. SEC Use Only

 

 

 

4. Source of Funds

WC, O

 

 

5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

o

 

 

6. Citizenship or Place of Organization

Delaware

 

Number of Shares Beneficially Owned by Each Reporting Person With

 

 

7. Sole Voting Power

128,818

 

 

8. Shared Voting Power

-0-

 

 

9. Sole Dispositive Power

128,818

 

 

10. Shared Dispositive Power

-0-

 

 

11. Aggregate Amount of Beneficially Owned by Each Reporting Person

128,818

 

 

12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares

o

 

 

13. Percent of Class Represented by Amount in Row (11)

0.92%

 

 

14. Type of Reporting Person

PN

 

 

 

 

CUSIP No.

911380103

 

 

1. Name of Reporting Person

Loeb Offshore B Fund Ltd.

 

 

I.R.S. Identification No. of Above Person

 

 

 

2. Check the Appropriate Box if a Member of a Group

(a) x

 

(b) o

 

 

3. SEC Use Only

 

 

 

4. Source of Funds

WC, O

 

 

5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

o

 

 

6. Citizenship or Place of Organization

Cayman Islands

 

Number of Shares Beneficially Owned by Each Reporting Person With

 

 

7. Sole Voting Power

37,495

 

 

8. Shared Voting Power

-0-

 

 

9. Sole Dispositive Power

37,495

 

 

10. Shared Dispositive Power

-0-

 

 

11. Aggregate Amount of Beneficially Owned by Each Reporting Person

37,495

 

 

12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares

o

 

 

13. Percent of Class Represented by Amount in Row (11)

0.27%

 

 

14. Type of Reporting Person

CO

 

 

 

CUSIP No.

911380103

 

 

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) o

 

 

3. SEC Use Only

 

 

 

4. Source of Funds

WC, O

 

 

5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

o

 

 

6. Citizenship or Place of Organization

Delaware

 

Number of Shares Beneficially Owned by Each Reporting Person With

 

 

7. Sole Voting Power

8,442

 

 

8. Shared Voting Power

-0-

 

 

9. Sole Dispositive Power

8,442

 

 

10. Shared Dispositive Power

-0-

 

 

11. Aggregate Amount of Beneficially Owned by Each Reporting Person

8,442

 

 

12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares

o

 

 

13. Percent of Class Represented by Amount in Row (11)

0.06%

 

 

14. Type of Reporting Person

CO

 

 

 

CUSIP No.

911380103

 

 

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) o

 

 

3. SEC Use Only

 

 

 

4. Source of Funds

WC, O

 

 

5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

o

 

 

6. Citizenship or Place of Organization

Cayman Islands

 

Number of Shares Beneficially Owned by Each Reporting Person With

 

 

7. Sole Voting Power

5,805

 

 

8. Shared Voting Power

-0-

 

 

9. Sole Dispositive Power

5,805

 

 

10. Shared Dispositive Power

-0-

 

 

11. Aggregate Amount of Beneficially Owned by Each Reporting Person

5,805

 

 

12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares

o

 

 

13. Percent of Class Represented by Amount in Row (11)

0.04%

 

 

14. Type of Reporting Person

CO

 

 

 

 

Item 1.

Security and Issuer

 

 

The title and class of equity security to which this Statement relates is the Common Stock, 0.001 par value per share (the “Common Stock”), of United Retail Group, Inc. The address of the Issuer’s principal executive offices is 365 West Passaic Street, Rochelle Park, New Jersey 07660.

 

 

Item 2.

Identity and Background

 

 

Loeb Arbitrage Fund (“LAF”), 61 Broadway, New York, New York, 10006, is a New York limited partnership. It is a registered broker/dealer. Its general partner is Loeb Arbitrage Management, Inc., (“LAM”), a Delaware corporation, with the same address. Loeb Arbitrage B Fund LP (“LAFB”) is a Delaware limited partnership. Its general partner is Loeb Arbitrage B Management, LLC. The President of these general partners is Gideon J. King. The other officers of LAM are Thomas L. Kempner, Chairman of the Board, President, Peter A. Tcherepnine, Vice President, Edward J. Campbell, Vice President. Loeb Partners Corporation (“LPC”), 61 Broadway, New York, New York, 10006, is a Delaware corporation. It is a registered broker/dealer and a registered investment adviser. Thomas L. Kempner is its President and a director and its Chief Executive Officer. Norman N. Mintz is a Vice President and also a director. Gideon J. King is Executive Vice President. Loeb Holding Corporation (“LHC”), a Maryland corporation, 61 Broadway, New York, New York, 10006 is the sole stockholder of LAM and LPC. Thomas L. Kempner is its President and a director as well as its Chief Executive Officer and majority stockholder. Norman N. Mintz and Peter A. Tcherepnine are also directors. Loeb Offshore Fund, Ltd., (“LOF”) and Loeb Offshore B Fund Ltd. (“LOFB”) are each a Cayman Islands exempted company. Loeb Offshore Management, LLC (“LOM”) is a Delaware limited liability company, a registered investment adviser and is wholly owned by Loeb Holding Corporation. It is the investment adviser of LOF and LOFB. Gideon J. King and Thomas L. Kempner are Directors of LOF and LOFB and Managers of LOM. Loeb Marathon Fund (“LMF”) is a Delaware limited partnership whose general partner is LAM. Loeb Marathon Offshore Fund Ltd. (“LMOF”) is a Cayman Islands exempted company. LOM is the investment adviser of LMOF. All of the individuals named are United States citizens. None 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, LPC**, LOF, LMF, LMOF, LAFB and LOFB in margin accounts maintained with Bear Stearns Securities Corp.

 

 

Item 4.

Purpose of Transaction

 

 

 

 

LAF, LPC**, LOF, LMF, LMOF, LAFB and LOFB (“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 owned the following shares of Common Stock as of September 25, 2007.

 

 

 

Shares of Common Stock

Loeb Arbitrage Fund

400,080

 

Loeb Partners Corporation**

43,058

 

Loeb Offshore Fund Ltd.

97,971

 

Loeb Marathon Fund LP

8,442

 

Loeb Marathon Offshore Fund, Ltd.

5,805

 

Loeb Arbitrage B Fund LP

128,818

 

Loeb Offshore B Fund Ltd.

37,495

 

 

 

 

Total

721,669

 

 

The total shares of Common Stock constitutes 5.16% of the 13,980,559 outstanding shares of Common Stock as reported by the issuer.

**Including shares of Common Stock purchased for the account of one customer of Loeb Partners Corporation as to which it has investment discretion.

 

 

(b)

See paragraph (a) above.

 

 

 

 

(c)

The following purchases and sales (-) of Common Stock have been made in the last 60 days:

 

 

 

Purchases and Sales (-) of Common Stock

 

Holder

Date

Shares

Average Price

Loeb Partners

Corp.**

8/7/2007

298

9.01

 

8/9/2007

101

8.90

 

8/10/2007

1100

9.15

 

8/21/2007

1357

9.29

 

8/22/2007

678

9.52

 

9/4/2007

172

8.67

 

9/6/2007

-459

8.19

 

9/7/2007

-102

7.85

 

9/7/2007

-1513

7.98

 

9/7/2007

-1100

7.88

 

9/7/2007

-119

7.85

 

9/10/2007

-903

7.62

 

9/11/2007

15500

13.41

 

9/11/2007

4650

13.38

 

9/12/2007

3100

13.51

 

9/13/2007

3595

13.53

 

9/13/2007

875

13.54

 

9/14/2007

6762

13.54

 

9/18/2007

2238

13.54

 

9/19/2007

6

13.52

 

9/25/2007

2597

13.58

 

 

 

 

Holder

Date

Shares

Average Price

Loeb Arbitrage

Fund

8/7/2007

2784

9.01

 

8/9/2007

1064

8.90

 

8/10/2007

11440

9.15

 

8/21/2007

14268

9.29

 

8/22/2007

7134

9.52

 

9/6/2007

-8266

8.19

 

9/7/2007

-11440

7.88

 

9/7/2007

-2057

7.85

 

9/7/2007

-14017

7.98

 

9/10/2007

-9636

7.62

 

9/11/2007

143675

13.41

 

9/11/2007

43102

13.38

 

9/12/2007

28735

13.51

 

9/13/2007

18988

13.53

 

9/14/2007

100004

13.54

 

9/18/2007

21285

13.54

 

9/19/2007

57

13.52

 

 

 

9/25/2007

9583

13.58

 

 

 

 

Holder

Date

Shares

Average Price

Loeb Offshore

Fund

8/7/2007

765

9.01

 

8/9/2007

260

8.90

 

8/10/2007

3060

9.15

 

8/21/2007

3480

9.29

 

8/22/2007

1740

9.52

 

9/6/2007

-1991

8.19

 

9/7/2007

-498

7.85

 

9/7/2007

-3060

7.88

 

9/7/2007

-3398

7.98

 

9/10/2007

-2735

7.62

 

9/11/2007

34825

13.41

 

9/11/2007

10448

13.38

 

9/12/2007

6965

13.51

 

9/13/2007

1983

13.54

 

9/13/2007

9828

13.53

 

9/14/2007

17201

13.54

 

9/18/2007

5214

13.54

 

9/19/2007

14

13.52

 

9/25/2007

3362

13.58

 

 

 

 

Holder

Date

Shares

Average Price

Loeb Arbitrage B

Fund LP

8/3/2007

9192

9.91

 

8/7/2007

891

9.01

 

8/9/2007

212

8.90

 

8/9/2007

-6707

8.60

 

8/10/2007

3432

9.15

 

8/13/2007

1107

10.02

 

8/21/2007

4156

9.29

 

8/22/2007

2078

9.52

 

9/6/2007

-2461

8.19

 

9/7/2007

-3432

7.88

 

9/7/2007

-4220

7.98

 

9/7/2007

-619

7.85

 

9/10/2007

-2198

7.63

 

9/11/2007

12975

13.38

 

9/11/2007

43250

13.41

 

9/12/2007

8650

13.51

 

9/13/2007

2792

13.54

 

9/13/2007

14500

13.53

 

 

 

 

9/14/2007

22500

13.54

 

 

9/18/2007

6674

13.54

 

 

9/19/2007

18

13.52

 

 

9/25/2007

7155

13.58

 

 

 

 

 

 

Holder

Date

Shares

Average Price

 

Loeb Offshore B

Fund Ltd.

8/3/2007

2811

9.91

 

 

8/7/2007

262

9.01

 

 

8/9/2007

-2030

8.60

 

 

8/9/2007

63

8.90

 

 

8/10/2007

968

9.15

 

 

8/13/2007

335

10.02

 

 

8/21/2007

1229

9.29

 

 

8/22/2007

615

9.52

 

 

9/6/2007

-823

8.19

 

 

9/7/2007

-182

7.85

 

 

9/7/2007

-1244

7.98

 

 

9/7/2007

-968

7.88

 

 

9/10/2007

-700

7.63

 

 

9/11/2007

12750

13.41

 

 

9/11/2007

3825

13.38

 

 

9/12/2007

2550

13.51

 

 

9/13/2007

5089

13.53

 

 

9/14/2007

6500

13.54

 

 

9/18/2007

1968

13.54

 

 

9/19/2007

5

13.52

 

 

9/25/2007

1809

13.58

 

 

 

 

 

 

Holder

Date

Shares

Average Price

Loeb Marathon

Fund

8/7/2007

2977

9.01

 

8/21/2007

3281

9.29

 

8/22/2007

1640

9.52

 

9/6/2007

-1548

8.19

 

9/7/2007

-490

7.85

 

9/7/2007

-3339

7.98

 

9/10/2007

-2214

7.62

 

9/25/2007

294

13.58

 

 

 

 

Holder

Date

Shares

Average Price

Loeb Marathon

Offshore Fund

8/7/2007

2023

9.01

 

8/21/2007

2229

9.29

 

 

 

8/22/2007

1115

9.52

 

9/6/2007

-1052

8.19

 

9/7/2007

-2269

7.98

 

9/7/2007

-333

7.85

 

9/10/2007

-1504

7.62

 

9/25/2007

200

13.58

 

_____________________

**Including shares of Common Stock purchased for the account of one customer of Loeb Partners Corporation as to which it has investment discretion.

 

All reported transactions were effected on NASDAQ.

 

 

(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 PARTNERS CORPORATION

 

 

 

 

 

 

Date: September 27, 2007

By:

/s/ Michael S. Emanuel

 

 

Michael S. Emanuel

 

 

Senior Vice President

 

 

 

 

 

LOEB ARBITRAGE FUND

 

 

By: LOEB ARBITRAGE MANAGEMENT, INC., G.P.

 

 

 

 

 

 

Date: September 27, 2007

By:

/s/ Michael S. Emanuel

 

 

Michael S. Emanuel

 

 

Vice President

 

 

 

 

 

LOEB OFFSHORE FUND LTD.

 

 

 

 

 

 

Date: September 27, 2007

By:

/s/ Michael S. Emanuel

 

 

Michael S. Emanuel

 

 

Vice President

 

 

 

 

 

LOEB ARBITRAGE B FUND LP

 

 

By: LOEB ARBITRAGE B MANAGEMENT, LLC, G.P.

 

 

 

 

 

 

Date: September 27, 2007

By:

/s/ Michael S. Emanuel

 

 

Michael S. Emanuel

 

 

Vice President

 

 

 

 

 

LOEB OFFSHORE B FUND LTD.

 

 

 

 

 

 

 

 

 

Date: September 27, 2007

By:

/s/ Michael S. Emanuel

 

 

Michael S. Emanuel

 

 

Vice President

 

 

 

 

 

 

 

LOEB MARATHON FUND LP

 

 

By: LOEB ARBITRAGE MANAGEMENT, INC., G.P.

 

 

 

 

 

 

Date: September 27, 2007

By:

/s/ Michael S. Emanuel

 

 

Michael S. Emanuel

 

 

Vice President

 

 

 

 

 

LOEB MARATHON OFFSHORE FUND, LTD.

 

 

 

 

 

 

 

 

 

Date: September 27, 2007

By:

/s/ Michael S. Emanuel

 

 

Michael S. Emanuel

 

 

Vice President

 

 

 

 

 

 

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