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BRIEFLY

December 18, 1987

A national flower wholesaler has sold its 50% interest in Conroy's, the Culver City-based flower shop franchiser, to other Conroy stockholders. Conroy President Carter Miller, partner Stanley Schwartz and Public Storage Inc., another major stockholder, paid an undisclosed amount for the stake held by Melridge Inc., a flower wholesaler headquartered in Aurora, Ore. The sale was part of Melridge's corporate reorganization after it filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. Melridge acquired the 50% interest in the 75-store chain after it loaned Miller and Schwartz $3.4 million to buy out two former partners last year.

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