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                                      Form 10-K

                          SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.  20549


(Mark One)

[ X ]    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D)
         OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]

For the Fiscal Year ended May 31, 1997

                                          OR

[   ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
         SECURITIES EXCHANGE ACT OF 1934  [NO FEE REQUIRED]

For the transition period from _______ to _________

Commission File No. 0-5815


                               AMERICAN CONSUMERS, INC.
--------------------------------------------------------------------------------
                (Exact name of registrant as specified in its charter)


              Georgia                                         58-1033765        
-------------------------------------              -----------------------------
(State or other jurisdiction                     (I.R.S. Employer Identification
 of incorporation or                              Number)
 organization)



         P.O. Box 2328, 418-A Battlefield Pkwy., Ft. Oglethorpe, GA    30742
         -------------------------------------------------------------------
      (Address of principal executive offices)                   (Zip Code)


Registrant's Telephone Number, including Area Code: (706) 861-3347


Securities registered pursuant to Section 12(g) of the Act:

                            Common Stock, $0.10 par value
--------------------------------------------------------------------------------
                                   (Title of Class)

                              Exhibit Index on Page __  

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Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

YES   X            NO______


Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K  [ X ]

State the aggregate market value of the voting stock held by non-affiliates of
the registrant.  The aggregate market value shall be computed by reference to
the price at which the stock was sold, or the average bid and asked prices of
such stock, as of a specified date within 60 days prior to the date of filing.

As of August 11, 1997, the aggregate market value of the voting stock held by
non-affiliates of the registrant was approximately $191,225.  (Calculated for
these purposes by multiplying the total number of outstanding shares held by
non-affiliates by available bid price information.)

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

921,507 shares of Common Stock, $0.10 par value, as of August 11, 1997.

List hereunder the following documents, if incorporated by reference and the
Part of the Form 10-K into which the document is incorporated:  (1) any annual
report to security holders; (2) any proxy or information statement; and (3) any
prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of
1933.  The listed documents should be clearly described for identification
purposes:

(1)  specified portions of the Registrant's Annual Report to Shareholders for
the fiscal year ended May 31, 1997, incorporated by reference into Part II of
this report on Form 10-K.

(2)  specified portions of the Registrant's Definitive Proxy Statement filed
with the Securities and Exchange Commission for the Registrant's Annual Meeting
of Shareholders to be held September 18, 1997 incorporated by reference into
Part III of this report on Form 10-K.

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                                        Part I

ITEM 1.  BUSINESS

Incorporated in Georgia in 1968, American Consumers, Inc. (the "Company"),
operates six (6) supermarkets within a compact geographical area that comprises
Northwest Georgia, Northeast Alabama, and Southeast Tennessee.

All of the Company's supermarkets are operated under the name "Shop-Rite."  All
of the Company's supermarkets are self-service and are engaged in the retail
selling of groceries including meats, fresh produce, dairy products, frozen
foods, bakery products, tobacco products, and miscellaneous other non-food
items.  The Company's supermarkets feature national brand merchandise with only
a minor part of sales from controlled-label, private-label or generic
merchandise.  "Controlled-label" or "private-label" merchandise is merchandise
purchased from national or local suppliers under a trade name chosen by the
wholesaler supplying the merchandise.  The Company's supermarkets offer milk and
certain dairy products, as well as frozen vegetables and jellies, under the
controlled-labels "Hyde Park," "Rainbow" and "Marquee."  Bread and related
bakery items are also offered as controlled-label groceries.

During the fiscal year ended May 31, 1997, Company's major supplier of staple
groceries was Fleming  Co., Inc. ("Fleming") formerly, Malone & Hyde, Inc., with
its principal corporate offices in Oklahoma City, Oklahoma.  For the fiscal year
ended May 31, 1997, approximately 72% of the Company's total inventory purchases
of $22,659,414 were made from Fleming.  Prior years purchases from Fleming were
approximately 75%.  The inventory purchases from Fleming covered all lines of
the Company's groceries.  Fleming was the Company's principal supplier of
tobacco products and meat products.  Purchases from Specialty Produce Company, a
local produce supplier, account for the majority of the Company's produce
purchases.

Various local suppliers within the geographical area served by the Company's
supermarkets provide the Company with approximately half of its requirements of
certain perishable items, including produce, and account for approximately 28%
of the Company's total inventory purchases.  The Company believes that there are
other adequate and convenient sources of groceries, including several area and
local suppliers, which could meet its needs.  Accordingly, the Company is not
dependent upon any particular supplier for its requirements of groceries.

    The supermarket industry is highly competitive, and the principal method of
competition has been, in previous years, the pricing of groceries.  The
Company's current major competitors now include various local and three regional
chains.  The nature of such price competition now includes the sale of selected

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items at below cost prices as "loss-leaders" or "advertised specials", the
practice of "double couponing" or matching coupon discounts with additional cash
discounts, as well as the sale of certain main line items at prices below the
Company's wholesale cost.  The Company believes that its major competitors have
been and are able to obtain preferential treatment from suppliers in the form of
advertising allowances, lower prices and other concessions not available to the
Company which put the Company at a competitive disadvantage.  The Company will
continue to strive to remain competitive; however, the Company's current major
competitors are much larger operations than the Company and, it believes, are in
a better position to withstand prolonged price competition.  The two locations
closed during the 1992-1993 fiscal year were closed in response, primarily, to
intense price competition.  As part of its response to such price competition,
the Company seeks to retain supermarket locations in areas where competition
from larger chains is less direct.

    Backlog is not a significant factor in the business of the Company.

    The Company employs approximately 107 full-time employees and approximately
78 part-time and seasonal employees.

    The Company believes it is in compliance with all federal, state and local
laws relating to environmental protection.  No capital expenditures for
equipment relating to environmental protection are presently anticipated.

    The Company is engaged in a single line of business; namely, the retail,
self-service grocery business which is not divisible into separate segments. 
The following table sets forth information for the last three (3) fiscal years
as to the total sales and revenue of the Company contributed by each class of
products which contributed a significant percentage of the total retail sales
and revenues of the Company in the last three (3) fiscal years.  1995 consisted
of 53 weeks while 1997 and 1996 consisted of 52 weeks.

                    1997                 1996             1995
                    ----                 ----             ----

Meat              $ 6,595,208     $  6,763,852          $ 6,698,449    

Produce             1,803,984        1,915,763            1,875,671    

Grocery & Non-
Food Items         19,605,801       20,606,311           20,260,751    

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ITEM 2.  PROPERTIES

The executive offices of the Company are located in an 1,800 square-foot office
building on Battlefield Parkway in Fort Oglethorpe, Georgia, which the Company
holds under a lease for a term of three years, expiring in November 1998, with a
one year option to renew through November, 1999.

The Company's supermarkets are located in Ringgold, LaFayette, Chatsworth, and
Chickamauga, Georgia; Stevenson, Alabama; and Dayton, Tennessee.  All of the six
locations are leased from unaffiliated landlords.  These leases are presented
below:

                     Square        Current Lease         Renewal
Location             Footage            Term             Options
--------             -------       -------------         -------

Ringgold, GA         14,400     12/01/92 - 11/30/97   2-5 yr. terms
LaFayette, GA        20,500     02/26/92 - 01/31/02   3-5 yr. terms
Chatsworth, GA       24,360     04/29/88 - 04/28/03   3-5 yr. terms
Chickamauga, GA      13,840     04/07/86 - 12/31/98   3-5 yr. terms
Stevenson, AL        23,860     06/01/94 - 05/31/04   3-5 yr. terms
Dayton, TN           23,004     08/01/92 - 07/31/02   2-5 yr. terms
                    -------
                    119,964
                    -------
                    -------

The supermarkets in Ringgold, LaFayette, and Chatsworth, Georgia; Stevenson,
Alabama; and Dayton, Tennessee, are located in strip shopping centers.  The
store in Chickamauga, Georgia, is free standing. 

ITEM 3.  LEGAL PROCEEDINGS

There are no material pending legal proceedings to which the Company is a party,
or of which any of its property is the subject, nor have any material legal
proceedings been terminated during the fourth quarter of the Company's fiscal
year.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.
                          EXECUTIVE OFFICERS OF THE COMPANY

The Company's Board of Directors appoints the Company's Executive Officers for a
term of one year.  The names, ages, offices held with the Company, business
experience during the past five years, and certain directorships held by each of
the Company's Executive Officers are set forth in the following table:

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Name and Year                Office(s) Presently
First Elected as             Held, Business Experience
Executive Officer            and Certain Directorships          Age
-----------------            --------------------------         ---

Michael A. Richardson        Chairman of the Board of           51
1977                         Directors, President, Chief
                             Executive Officer, member of
                             the Executive Committee of 
                             the Board of Directors.

Virgil Bishop                Vice-President, Director,          58
1974                         member of the Executive
                             Committee and the Board
                             of Directors.

Paul R. Cook                 Executive Vice-President,          47
1987                         Treasurer, Chief Financial 
                             Officer, Director, member of  
                             the Executive Committee and 
                             the Board of Directors.
                             Director of Capital Bank, 
                             Fort Oglethorpe, Georgia
                             since May 1993.  

James E. Floyd               Vice-President, member of          53   
1991                         the Executive Committee 
                             (ex-officio).  From 1966 to 
                             1991, Mr. Floyd was
                             Grocery Supervisor for 
                             the Company.        

Reba S. Southern             Secretary, member of the           44
1991                         Executive Committee (ex-
                             officio).  From 1972 to 1991,
                             Mrs. Southern was Administra-
                             tive Assistant for the Company.


                                       PART II

ITEM 5.  MARKET FOR THE COMPANY'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS

The information required by this Item is incorporated herein by reference to
page 4 of the Company's annual report to security holders for the fiscal year
ended May 31, 1997.

ITEM 6.  SELECTED FINANCIAL DATA

The information required by this Item is incorporated herein by reference to
page 3 of the Company's annual report to security holders for the fiscal year
ended May 31, 1997.

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ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

The information required by this Item is incorporated herein by reference to
pages 5 through 7 of the Company's annual report to security holders for the
fiscal year ended May 31, 1997.

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The information required by this Item is incorporated herein by reference to
pages 8 through 19 of the Company's annual report to security holders for the
fiscal year ended May 31, 1997.

ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE

None.


                                       PART III

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE COMPANY

Information concerning the Company's Executive Officers is set forth in Part I
of this report on Form 10-K under the caption "Executive Officers of the
Company."  The remaining information required by this Item is incorporated
herein by reference to the Company's definitive proxy statement filed with the
Securities and Exchange Commission pursuant to Regulation 14A for the Company's
Annual Meeting of Shareholders to be held September 18, 1997, under the heading
"INFORMATION ABOUT NOMINEES FOR DIRECTOR."

ITEM 11. EXECUTIVE COMPENSATION

The information required by this Item is incorporated herein by reference to the
Company's definitive proxy statement filed with the Securities and Exchange
Commission pursuant to Regulation 14A for the Company's Annual Meeting of
Shareholders to be held September 18, 1997, under the headings "EXECUTIVE
COMPENSATION" and "COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION
IN COMPENSATION DECISIONS."

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The information required by this Item is incorporated herein by reference to the
Company's definitive proxy statement filed with the Securities and Exchange
Commission pursuant to Regulation 14A for the Company's Annual Meeting of
Shareholders to be held September 18, 1997, under the heading "PRINCIPAL
SHAREHOLDERS."

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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The information required by this Item is incorporated herein by reference to the
Company's definitive proxy statement filed with the Securities and Exchange
Commission pursuant to Regulation 14A for the Company's Annual Meeting of
Shareholders to be held September 18, 1997, under the headings "COMPENSATION
COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION IN COMPENSATION DECISIONS" AND
"CERTAIN TRANSACTIONS."


                                       PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K

(a)  1.  The following Financial Statements included in the Company's 1997
         Annual Report to the security holders for the fiscal year ended May
         31, 1997, are incorporated by reference in Item 8 hereof:

         -    Report of Independent Accountants

         -    Balance Sheets - May 31, 1997 and June 1, 1996

         -    Statements of Income and Retained Earnings - Fiscal Years Ended
              May 31, 1997; June 1, 1996; and June 3, 1995

         -    Statements of Cash Flows - Fiscal Years Ended May 31, 1997; June
              1, 1996; and June 3, 1995

         -    Notes to Financial Statements

    2.   None of the schedules for which provision is made in the applicable
         accounting regulations of the Securities and Exchange Commission are
         required under the related instructions, or else are inapplicable to
         the Company, and therefore no such schedules have been filed.

    3.   The following exhibits are either incorporated by reference or
         attached to and made a part of this report:

    Exhibit 3           Articles of Incorporation and By-Laws.  Incorporated by
                        reference to Exhibit 3 to Form 10-K for the year ended
                        May 29, 1993.

    Exhibit 10(a)       Line of Credit Loan Agreement, related Note and
                        Security Agreement dated as of August 1992 by and
                        between the Company and Wachovia Bank of Georgia, N.A. 
                        Incorporated by reference to Exhibit 10(a) to Form 10-K
                        for the year ended May 29, 1993.

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    Exhibit 10(b)       Financial Management Account Investment/Commercial Loan
                        Access Agreement dated October 1, 1993, Amending Line
                        of Credit Loan Agreement dated as of August 1992 by and
                        between the Company and Wachovia Bank of Georgia, N.A. 
                        Incorporated by reference to Exhibit 10(b) to Form 10-K
                        for the year ended June 3, 1995.

    Exhibit 10(c)       Note and Security Agreement, together with related
                        Addendum to Financial Management Account Investment/
                        Commercial Loan Access Agreement between the Company
                        and Wachovia Bank of Georgia, N.A., dated July 6, 1994. 
                        Incorporated by reference to Exhibit 10(c) to Form 10-K
                        for the year ended June 3, 1995.

    Exhibit 10(d)       Letter Agreement dated December 5, 1994 amending
                        Financial Management Account Investment/Commercial Loan
                        Access Agreement between the Company and Wachovia Bank
                        of Georgia, N.A. Incorporated by reference to Exhibit
                        10(d) to Form 10-K for the year ended June 3, 1995.

    Exhibit 10(e)       Promissory Notes to related stockholder. Incorporated
                        by reference to Exhibit 10(d) to Form 10-K for the year
                        ended May 29, 1993.

    Exhibit 10(f)       Lease for the Company's Ringgold, Georgia location. 
                        Incorporated by reference to Exhibit 10(e) to Form 10-K
                        for the year ended May 29, 1993.

    Exhibit 10(g)       Agreement for the Company's LaFayette, Georgia
                        location.  Incorporated by reference to Exhibit 10(f)
                        to Form 10-K for the year ended May 29, 1993.

    Exhibit 10(h)       Lease Agreement for the Company's Chatsworth, Georgia
                        location. Incorporated by reference to Exhibit 10(g)
                        to Form 10-K for the year ended May 29, 1993.

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    Exhibit 10(i)       Lease Agreement for the Company's Chickamauga, Georgia
                        location. Incorporated by reference to Exhibit 10(h)
                        to Form 10-K for the year ended May 29, 1993.

    Exhibit 10(j)       Renewal Lease Agreement for the Company's Stevenson,
                        Alabama location. Incorporated by reference to Exhibit
                        10(h) to Form 10-K for the year ended May 28, 1994.

    Exhibit 10(k)       Lease Agreement for the Company's Dayton, Tennessee
                        location.  Incorporated by referenced to Exhibit 10(j)
                        to Form 10-K for the year ended May 29, 1993.

    Exhibit 10(l)       Lease Agreement for the Company's Trenton, Georgia
                        location.  Incorporated by reference to Exhibit 10(k)
                        to Form  10-K for the year ended May 29, 1993.

    Exhibit 10(m)       Lease Agreement for the Company's Executive offices. 
                        Incorporated by reference to Exhibit 10(l) to Form 10-K
                        for the year ended May 29, 1993.

    Exhibit 10(n)       Equipment Lease and Master License Agreement dated
                        March 31, 1995 between the Company and Fleming
                        Companies, Inc. pertaining to the equipment and
                        software for the Company's electronic cash registers
                        and scanning equipment.  Incorporated by reference to
                        Exhibit 10(n) to Form 10-K for the year ended June 1,
                        1996.

    Exhibit 10(o)       Collateral Substitution Agreement, together with
                        related Collateral Assignment of Deposit, between the
                        Company and Wachovia Bank of Georgia, N.A., dated May
                        19, 1997.

    Exhibit 13          Annual Report to Shareholders for the Fiscal Year ended
                        May 31, 1997.

    Exhibit 23          Consent of Messrs. Hazlett, Lewis & Bieter.

(b) The Company has not filed any report on Form 8-K during the last quarter of
the period covered by this report.

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                                      SIGNATURES

    Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this Report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                             AMERICAN CONSUMERS, INC.

Date: August 26, 1997        By: s/MICHAEL A. RICHARDSON
                                 -----------------------
                                 Michael A. Richardson
                                 Chairman of the Board,
                                 President and Chief
                                 Executive Officer

    Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.  


    Signature                     Title                    Date
    ---------                     -----                    ----

s/MICHAEL A. RICHARDSON           Chairman of the Board,        August 26, 1997
------------------------          President and Chief
Michael A. Richardson             Executive Officer

s/PAUL R. COOK                    Executive Vice-               August 26, 1997
------------------------          President, Chief 
Paul R. Cook                      Financial Officer,
                                  Treasurer (Chief 
                                  Accounting Officer) and
                                  Director

s/VIRGIL E. BISHOP                Vice-President and            August 26, 1997
------------------------          Director
Virgil E. Bishop        

s/JOHN P. PRICE                   Director                      August 26, 1997
------------------------
John P. Price

                                  Director                      August ___, 1997
------------------------ 
Thomas L. Richardson

s/JEROME P. SIMS                  Director                      August 26, 1997
------------------------
Jerome P. Sims, Sr.

                                  Director                       August __, 1997
------------------------ 
Herbert S. Willbanks