Midwood investors decrease interest in Factory Card & Party Outlet

By Lisa Kerner

Charlotte, N.C., June 4 - Factory Card & Party Outlet Corp. investors led by David E. Cohen, Ross D. DeMont and Midwood Capital Partners QP, LP plan to continue communicating with management, board members and other stockholders regarding causes of the current undervaluation of the company's stock, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 182,653 shares, or 5.4%, of the Naperville, Ill., specialty retailer's common stock.

On May 24, the investors reported a 6.7% stake in the company.

The investors said they have discussed strategies to create and maximize shareholder value, including recommending the retention of an investment banker on May 3 to explore a potential sale of Factory Card and Party Outlet, a previous SEC filing stated.

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