CAPE GIRARDEAU, Missouri — James and Beverly Rust, the principals of RM Coco and the Custom Creations workroom division left the company on October 16. At a company wide meeting with the Bank consultants hired to dispose of the assets as quickly as possible, employees were told that a more aggressive management style was required. RM Coco is a medium sized fabric jobber/workroom offering fabrics, trims and hardware with over 80 branches and multi line showrooms primarily in the Midwest and West Coast. Several American and Canadian wholesalers are in discussions with the Bank in possession about liquidating RM Coco’s inventory. These potential buyers include Duralee and Fabricut. At one time, RM Coco sales were in the $30 million range but it is understood that the company’s business fell on hard times with the high end of the business never realizing its total potential. As a result of the decline, RM Coco’s lender asked the Rusts to leave due to non-performance of loans extended to the company, it was learned. The Bank, at the current time nameless, is not talking but it is understood that RM Coco’s piece-goods sales were significantly less than the Bank expected once it took charge of the company. The Bank takeover seems to be clothed in secrecy for some unknown reason and nobody there wants to volunteer any information. Even the Chief Financial Officer of RM Coco did not want to be quoted in the press. Many in the industry would like further information or an explanation but it is not forthcoming at this time. Individual vendors are owed as much as $50,000 but attempts to collect have failed since the Rusts have left the company, one vendor reported. In the wake of the Rusts departure, the Bank has appointed an interim management team, which includes at least three Bank consultants and RM Coco company executives, according to one source at RM Coco. An official statement from the Bank in possession is not available and no further comments have been made in spite of numerous requests by Fabrics & Furnishings International. Trade reports indicate that due to its financial situation, RM Coco has not purchased new inventory for quite awhile and payments to vendors have been slow or not at all.  At presstime, comments promised from the bank consultants were not forthcoming.