Master Glazier Sells Stake in Planet Kids

Master Glazier Karate International Inc. sold its 50% interest in Planet Kids Inc., an Irvine chain of children’s entertainment and education centers, to United Leisure Corp. for $928,000.

Master Glazier, an Elizabeth, N.J., owner and operator of karate studios, said it originally invested $500,000 in Planet Kids in June 1994. In conjunction with the sale, Planet Kids repaid a $500,000 note due Jan 1, 1998, to Master Glazier at 8% interest.