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FABRI-CENTERS TO ACQUIRE 18 NEW YORK FABRICS STORES

 FABRI-CENTERS TO ACQUIRE 18 NEW YORK FABRICS STORES
 SAN FRANCISCO, Nov. 25 /PRNewswire/ -- Fabri-Centers of America, Inc. (NYSE: FCA), and New York Fabrics of Pleasant Hill, Inc., announced today the execution of a definitive asset purchase agreement where Fabri-Centers will acquire 18 stores of New York Fabrics, all of which are located in the greater San Francisco area.
 It is anticipated that the closing will occur by year-end.
 Alan Rosskamm, chief executive officer of Fabri-Centers, said that "Fabri-Centers is pleased to have the opportunity to affiliate with a chain of the quality of New York Fabrics, which has for over 50 years offered its customers quality fabrics at competitive prices."
 Steve Berger, chief executive officer of New York Fabrics, said, "We are very excited about the potential that is created by the combination of our company with the resources and capabilities of Fabri-Centers. My family and the Rosskamm and Zimmerman families have known eachother for many years. Without that relationship, this transaction would not have been possible.
 Fabri-Centers operates 622 fabric stores in 36 states and 29 Cargo Express houseware stores in Ohio and Michigan. For the nine-month period ended Nov. 2, 1991, Fabri-Centers had record net sales of $310,374,000 and net earnings of $5,556,000.
 -0- 11/25/91
 /CONTACT: Robert Norton of Fabri-Centers of America, 216-463-3436/
 (FCA) CO: Fabri-Centers; New York Fabrics ST: Ohio, New York IN: SU: TNM


LC -- CL007 -- 6723 11/25/91 09:57 EST
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Publication:PR Newswire
Date:Nov 25, 1991
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