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BRIEFLY

October 07, 1987

Hooker Corp. said it has agreed to acquire a controlling interest in the B. Altman & Co. department store chain in New York. Hooker, an Australian property and retail company, said it will buy 58% of the closely held company for an undisclosed price while negotiating for the rest. The purchase brings to four the number of major U.S. retailers to be owned or controlled by Australian real estate developer George Herscu, who heads Hooker. Last week Hooker said it would acquire most of financially beleaguered Sakowitz Inc., a Houston retailer, under an amended plan of reorganization filed in federal bankruptcy court.

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