C B Sports Inc

Scrambling for cash, Aca Joe--a fast-growing retailer and licensor of colorful casual wear for men--said Monday that it had agreed to sell a stake in the company to a Vermont ski wear maker. It also announced plans to sell or close 39 stores. The San Francisco company also reported a much larger than expected $11.9-million loss--including the costs of closing unprofitable stores--for fiscal 1986.

Scrambling for cash, Aca Joe--a fast-growing retailer and licensor of colorful casual wear for men--said Monday that it had agreed to sell a stake in the company to a Vermont ski wear maker. It also announced plans to sell or close 39 stores. The San Francisco company also reported a much larger than expected $11.9-million loss--including the costs of closing unprofitable stores--for fiscal 1986.