Loeb invests in Factory Card & Party

By Lisa Kerner

Charlotte, N.C., Oct. 1 - Factory Card & Party Outlet Corp. investors led by Loeb Partners Corp. bought 327,652 shares of the company's stock between Sept. 19 and Sept. 26 priced from $16.17 to $16.28 each as an investment. The purchase gives Loeb an initial 9.68% stake in the company.

The transactions were reported in a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons intend to review their investment in Factory Card "on a continuing basis" and may "engage in discussions with management or the board of directors" concerning the business and future plans of the company, the filing stated.

Factory Card is a Naperville, Ill., specialty retailer.

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