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MAC FRUGAL'S BARGAINS - CLOSE-OUTS CONFIRMS STOCK BUY BACK

 MAC FRUGAL'S BARGAINS - CLOSE-OUTS CONFIRMS STOCK BUY BACK
 DOMINGUEZ, Calif., Aug. 6 /PRNewswire/ -- Mac Frugal's Bargains - Close-outs Inc. (NYSE: MFI) announced today that it has obtained approval from its lenders for the repurchase of up to 3 million common shares of its stock. Any such purchases will be made periodically in the open market or in privately negotiated transactions if and when, in the opinion of the company, market conditions warrant it. Merrill Lynch will act as agent for thac Frugal's Bargains - Close-outs, feature a wide variety of first quality general merchandise obtained through manufacturer close-outs, overruns, discontinued lines and packaging changes. An ever-changing assortment of merchandise is typically sold at 40 percent to 70 percent off regular retail prices. Until recently, the company operated as Pic 'N' Save Corp.
 -0- 8/6/92
 /CONTACT: Phil Carter, senior VP and CFO, 310-761-4167, or Eileen Hupp, assistant VP-marketing, 310-761-4214, both of Mac Frugal's Bargains - Close-outs/
 (MFI) CO: Mac Frugal's Bargains - Close-outs ST: California IN: REA SU:


JB-AL -- LA008 -- 7392 08/06/92 08:05 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
Words:174
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