COOK <CCF> TO POST LOSS, SELL STAKE Cook United INc said it expects to report a loss a loss of 16 mln dlrs, before an extraordinary credit of 44 mln dlrs resulting from its Chapter 11 reorganization, on sales of 217 mln dlrs for the year ended January 31, 1987. For 1986, Cook reported a loss of 30.8 mln dlrs on sales of 257 mln dlrs for the prior year. Cook also said it began preliminary talks with private investors looking to buy a stock position in order to provide Cook with additional cash and assist its posture in its negotation with its banks. Cook is negotiating with its bank lenders and private sources for a borrowing facility to relieve its current working capital requirements. Cook said it believes the reasons for its losses since OCtober have been identified and are mostly non-recurring. Shutting down 12 unprofitable stores since November has effectuated cost controls and improved merchandising, it said. It anticipates the turnaround will contine and that profitability with be restored. Cook now operates a total of 29 stores.