March 30, 1993
Creditors of Cherokee Inc. will swap much of their debt claims for 77% of the common stock of the Sunland-based apparel maker under a tentative agreement between the parties. The proposed change was expected. Cherokee had said in October that it was in restructuring talks with the creditors, and it's not uncommon for debt holders to exchange their claims for stock in order to keep a company alive.
November 11, 1997 |
Cherokee Inc. announced plans Monday to buy the worldwide rights to Sideout Sports Inc.'s trademarks and licensing agreements. The acquisition price was not disclosed. "I think we've demonstrated a great success in building Cherokee and want to apply the same techniques and global contacts to further develop Sideout," said Cherokee CEO Robert Margolis.
November 2, 1993 |
Robert Margolis, Cherokee Inc.'s chairman and chief executive, resigned Monday, rekindling speculation that French designer Georges Marciano, a Cherokee investor, wants to take a more active role in the maker of women's clothing. The 45-year-old Margolis, a 13-year veteran of Cherokee, recently steered it back to profitability after a bankruptcy reorganization.
November 2, 1993 |
Cherokee Inc.'s Chairman and Chief Executive Robert Margolis resigned Monday, rekindling speculation that French designer Georges Marciano, a Cherokee investor, wants to take a more active role in the women's clothing maker. The 45-year-old Margolis, a 13-year veteran of Cherokee who recently steered it back to profitability after it emerged from a bankruptcy reorganization, said he was leaving the company to pursue other entrepreneurial interests. Cherokee's stock rose $1.
October 27, 1992 |
Cherokee Inc. is a clothing company in trouble, and one of its many problems is visible during a stroll through a Mervyn's department store--its biggest customer. In the women's section, which is Cherokee's main market, the space Mervyn's devotes to Cherokee's casual shirts and pants has been shrinking in favor of the popular Dockers line made by apparel powerhouse Levi Strauss & Co. "Our real estate was cut back," concedes Robert Margolis, Cherokee co-chairman.
August 3, 1993 |
Guess Inc. founder Georges Marciano, who led the jeans maker through explosive growth and a bitter legal war with rival Jordache, is resigning as Guess chairman and chief executive, Bloomberg News Service reported Monday. Marciano, 46, also is selling his 40% stake in privately held Guess back to the Los Angeles-based company for an undisclosed price, Bloomberg said. That would leave his three brothers, Maurice, Paul and Armand, as the only owners of the company.
August 10, 1993 |
News that French designer Georges Marciano is resigning as chief executive of Guess? Inc., the Los Angeles-based clothing company that he and his three brothers founded, was the talk of the apparel industry last week. Perhaps especially so at Cherokee Inc., a Sunland-based maker of women's clothing that has taken Marciano's fancy. On the day reports surfaced last week that Marciano was leaving Guess?, Cherokee's stock surged 40%, to $4.38 a share, on unusually heavy trading volume.
January 30, 1996 |
A year ago, Cherokee Inc. was on the verge of extinction. The Van Nuys supplier of casual apparel and footwear had just squeaked through its second bankruptcy reorganization in less than two years, and was still bleeding money. That's when Robert Margolis, who had resigned as Cherokee's chief executive in 1993, saw an opportunity.
June 22, 1993 |
Georges Marciano, chairman and chief executive of Beverly Hills jeans maker Guess? Inc., has acquired a 19.9% stake in Cherokee Inc., the Sunland-based apparel company that recently emerged from bankruptcy reorganization. In a filing with the Securities and Exchange Commission, Marciano said he bought 995,000 shares of Cherokee's common stock in early June, paying $3.75 to $4.38 a share, for a total of about $4.1 million.
CALIFORNIA | LOCAL
September 21, 1999 |
Cherokee Inc., now closely tied with the Target chain, found success when it stopped making clothes and started licensing its brand name instead. The company, which licenses the Cherokee and Sideout brands to other manufacturers and retailers, was recently sought out by MGM Entertainment for advice on how to launch its own licensing enterprise. The company has come back from two Chapter 11 bankruptcies this decade to post net earnings of $2.