COOK &lt;CCF> TO POST LOSS, SELL STAKE

  Cook United INc said it expects
  to report a loss a loss of 16 mln dlrs, before an extraordinary
  credit of 44 mln dlrs resulting from its Chapter 11
  reorganization, on sales of 217 mln dlrs for the year ended
  January 31, 1987.
      For 1986, Cook reported a loss of 30.8 mln dlrs on sales of
  257 mln dlrs for the prior year.
      Cook also said it began preliminary talks with private
  investors looking to buy a stock position in order to provide
  Cook with additional cash and assist its posture in its
  negotation with its banks.
      Cook is negotiating with its bank lenders and private
  sources for a borrowing facility to relieve its current working
  capital requirements.
      Cook said it believes the reasons for its losses since
  OCtober have been identified and are mostly non-recurring.
      Shutting down 12 unprofitable stores since November has   
  effectuated cost controls and improved merchandising, it said.
      It anticipates the turnaround will contine and that
  profitability with be restored. Cook now operates a total of 29
  stores.
  

