Mike Preston and Leo Slocombe have bought back Marketing & Promotion Group, the Toronto sales promotion firm they founded in 1977, from Doane Raymond, trustee in bankruptcy for Clarke Hooper Canada.

Clarke Hooper, a finance company which has owned the firm since 1987, was forced into bankruptcy late last month.

Preston is now chairman of the company, Slocombe is executive vice-president and Hy Haberman continues as president under the renewed ownership. PS