Knickerbocker Sell-Off

L.L. Knickerbocker Co. director Farrah Fawcett plans to sell about 12% of her shares in the maker of products sold on cable TV shopping networks.

The actress said in a Securities and Exchange Commission filing that she plans to sell 35,000 shares. At Thursday’s closing price of $7.50 a share, Fawcett would gross $262,500.

A company spokeswoman said that Fawcett is selling the shares for personal reasons and that the transaction is not a reflection of Knickerbocker’s fortunes. If completed, the sale would leave Fawcett with 260,000 shares, a 1.5% stake in the company. Fawcett has sold 20,000 Knickerbocker shares since September.

Also on Thursday, Knickerbocker said its Krasner Group subsidiary signed a licensing agreement with actress Cicely Tyson to make a line of jewelry that will be sold on the QVC network.