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Jem Sportswear Company

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BUSINESS
July 16, 1992
A bankruptcy court judge gave the go-ahead Wednesday for the sale of the dormant Jimmy'Z division of Ocean Pacific Sunwear Ltd. Jem Sportswear in San Fernando has agreed to a down payment of $300,000 for Jimmy'Z, a well-known label for young men's surf-oriented shorts and shirts. Jem would then pay a royalty of 2% of net sales to OP, up to a total of $2.5 million. The deal is expected to close Friday.
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BUSINESS
July 16, 1992
A bankruptcy court judge gave the go-ahead Wednesday for the sale of the dormant Jimmy'Z division of Ocean Pacific Sunwear Ltd. Jem Sportswear in San Fernando has agreed to a down payment of $300,000 for Jimmy'Z, a well-known label for young men's surf-oriented shorts and shirts. Jem would then pay a royalty of 2% of net sales to OP, up to a total of $2.5 million. The deal is expected to close Friday.
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BUSINESS
May 15, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
Another key executive has left Ocean Pacific Sunwear Ltd., Orange County's largest licenser of surf wear, the company disclosed Thursday. OP also said it is negotiating to sell its Jimmy'Z line of casual clothing. John Bernards said he resigned Tuesday as president of the Newport Blue and Jimmy'Z divisions of the Tustin-based apparel giant. OP officials confirmed that they are in the process of selling the Jimmy'Z line of street wear for young men.
BUSINESS
May 15, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
Another key executive has left Ocean Pacific Sunwear Ltd., Orange County's largest licenser of surf wear, the company disclosed Thursday. OP also said it is negotiating to sell its Jimmy'Z line of casual clothing. John Bernards said he resigned Tuesday as president of the Newport Blue and Jimmy'Z divisions of the Tustin-based apparel giant. OP officials confirmed that they are in the process of selling the Jimmy'Z line of street wear for young men.
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