FMR Corp. Further Cuts Stake in House of Fabrics

FMR Corp., the Boston holding company for the Fidelity group of mutual funds, said in a filing with the Securities and Exchange Commission that it has further cut its holdings in Sherman Oaks-based House of Fabrics, from 10.4% to 8.92% or 529,173 common shares.

FMR, the largest shareholder of House of Fabrics, sold 84,500 shares Jan. 29 through Jan. 31 for $30.80 to $32.13 each, or $2.65 million total, according to the filing. FMR owned about 16% of House of Fabrics’ shares two months ago.

House of Fabrics, operator of the nation’s largest chain of sewing and fabric stores, is bidding to acquire Fabricland, a Portland, Ore.-based chain of fabric stores.