Cherokee Inc

Cherokee Inc., a Van Nuys clothing maker, said its profit for the second fiscal quarter that ended Nov. 30 was $2.24 million, more than six times the $336,000 earned in the same period last year. Revenue in the fiscal second quarter was $2.52 million, up 17% from $2.16 million in the same period last year. In the first two quarters of 1996, the company earned $2.78 million, down 12% from $3.18 million in the first sixth months of fiscal 1995. Revenue for the first six months was $3.

Cherokee Inc., a Van Nuys clothing maker, said it has reached a licensing agreement with WestPoint Stevens Inc. to develop and distribute bedding in the United States. WestPoint Stevens is the nation's leading manufacturer and marketer of bedroom and bathroom products.

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.

Cherokee Inc., a Van Nuys company that transformed after a bankruptcy reorganization from an apparel supplier to a licensor and marketer of its brand name to clothing retailers, reported a $336,000 fiscal second-quarter profit on net sales of $2.16 million. A year earlier, Cherokee lost $5.43 million on $18.9 million in net sales. In the six months that ended Dec. 2, the company earned $3.18 million on net sales of $12.9 million, in contrast with a loss of $7.77 million on $45.

Apparel maker Cherokee Inc. has emerged from Chapter 11 bankruptcy protection after reducing its debt from about $90 million to about $30 million. It was the second time in less than two years that the Sunland company has emerged from a bankruptcy reorganization. The just-completed reorganization plan called for holders of Cherokee's $76.6 million in 11% subordinated notes to exchange them for new Cherokee common shares equal to about a 90% stake in the company.

Cherokee Inc. said it filed its prepackaged Chapter 11 reorganization petition Monday in federal Bankruptcy Court in Delaware. The Sunland apparel maker reportedly listed $107.1 million in assets and $122.8 million in debts. It is the second Chapter 11 filing for the company, which is burdened by debt from a 1989 leveraged buyout. Of the liabilities listed, $95.3 million was unsecured, with $4 million of the unsecured claims being disputed. Secured debt is $27.

Cherokee Inc. announced its plan to enter a prepackaged bankruptcy reorganization by the end of the year. It would be the second Chapter 11 filing for the debt-plagued Sunland apparel maker. Last week, the company said that a key element of the plan was in place, with the agreement by a bondholders committee to swap long-term debt for common stock. Under the plan, all of the company's 11% senior subordinated notes due in 1999 would be swapped for about 89.

The uniforms have finally arrived at La Mesa Junior High School in Santa Clarita after a month's worth of delays that angered parents and school officials, but delighted students who viewed the uniform policy as too restrictive. A bizarre assortment of problems, including a truck hijacking and computer malfunctions, delayed delivery of the clothing that was supposed to reach students by Sept. 8, the first day of school.