Cherokee Inc

Cherokee Inc., the debt-heavy Sunland apparel maker, announced it has received proposals from two investors that could lead to infusions of cash equity. Both proposals require concessions from holders of Cherokee's 11% senior subordinated notes due in 1999, but neither would affect trade creditors, the company said. The company said it has hired a financial adviser to evaluate the proposals, and holders of the senior subordinated notes have been asked to form an informal committee.

Since Cherokee Inc. emerged from its bankruptcy reorganization last May, nothing has been quite the same at the clothing and shoe company. Guess? Inc. co-founder Georges Marciano and Saudi businessman Abdullah Taha Bakhsh have scooped up Cherokee's stock. Together they own about 32%. Cherokee Apparel, the company's main division, is now being run by a team of former Lee Apparel executives. Even Cherokee's 20-year-old Indian head logo is history.

Cherokee Inc., a Sunland-based maker of women's clothes and shoes, reported a fiscal third-quarter loss of $3.88 million on a 44% decline in sales from a year earlier. The loss in the quarter ended Feb. 26 was about the same as that of a year earlier. But revenue in the latest quarter plummeted to $24.7 million, from $44.4 million a year earlier, partly because the company has been restructuring. Its new line of clothes will be shipped in June. For the nine months ended Feb.

Cherokee Inc., the Sunland-based maker of apparel and footwear, reported a fiscal second-quarter loss of $4.9 million because of a $6-million charge to restructure and implement a new operating strategy. Cherokee said that before the onetime charge its operating income for the quarter ended Nov. 27 was $838,000. In the comparable quarter a year earlier, the company had an operating loss of $747,000 and a net loss of $5 million. Sales in the latest quarter dropped 19% to $26 million, from $32.

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.

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.

Cherokee Inc., which emerged from bankruptcy reorganization in May, reported a profit of $297,000 for its fiscal first quarter, in contrast to a loss of $4.28 million a year earlier. For the three months ended Aug. 28, the Sunland-based women's clothing maker posted sales of $34 million, down 17% from $41 million in the comparable period a year earlier.

Cherokee Inc., a Sunland-based women's clothing maker that recently emerged from bankruptcy reorganization, reported profits for its fiscal fourth quarter and year ended May 29. But without a onetime gain of $82 million from the extinguishment of debt, Cherokee said it would have posted large losses in the latest periods. In addition to reorganization costs, the company said its financial results in fiscal 1993 were hurt by uncertainty among its customers and suppliers because of the bankruptcy.

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.

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.