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FABRI-CENTERS ANNOUNCES CONVERTIBLE DEBENTURE REPURCHASE AUTHORIZATION

 FABRI-CENTERS ANNOUNCES CONVERTIBLE DEBENTURE
 REPURCHASE AUTHORIZATION
 CLEVELAND, Sept. 15 /PRNewswire/ -- Fabri-Centers of America, Inc. (NYSE: FCA) today announced that its board of directors has authorized the repurchase by the company of up to $25,000,000 principal amount of its 6-1/4 percent Convertible Subordinated Debentures due in 2002. The purchases will be made from time to time either in the open market or in negotiated transactions. The company had $74,750,000 principal amount outstanding on Sept. 1, 1992.
 The company recently increased its borrowing capacity by entering into a new $125.0 million, three-year revolving credit agreement with a group of six banks. The company may now borrow up to a maximum of $140.0 million by utilizing funds available under this credit facility as well as through other existing lines of credit.
 Fabri-Centers operates 685 fabric stores in 38 states, primarily under the name of Jo-Ann Fabrics, and 30 Cargo Express housewares stores in Ohio and Michigan.
 -0- 9/15/92
 /CONTACT: Robert Norton or Alan Rosskam, 216-656-2600, both of Fabri-Centers of America, Inc./
 (FCA) CO: Fabri-Centers of America, Inc. ST: Ohio IN: REA SU:


BM -- CL022 -- 9770 09/15/92 15:55 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
Words:197
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