Bellingham, Wash. — Brown & Cole here said last week it has agreed to sell a majority stake in the company to a California investment firm, which will enable the retailer to emerge from a yearlong bankruptcy by the end of the year. Hancock Park Associates, Los Angeles, said it has agreed to purchase controlling interest in the 20-store operation for $43 million. Brown & Cole is jointly owned by Brown & Cole Inc., and by Associated Grocers, Seattle, which was sold to Los ...

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