Warnaco Inc

More than 200 workers at the Olga lingerie factories in Santa Paula and Fillmore will receive pink slips today after a breakdown in negotiations between the owner and a prospective buyer in Van Nuys. A spokesman for New York-based Warnaco Inc., which owns the Olga plants, said AFR Apparel International pulled out of the deal because it could not settle on a new lease for the factory buildings.

Pacific Enterprises on Monday posted earnings of $51 million, or 57 cents a share, for the first quarter ended March 31, compared with $45 million, or 51 cents, for the same period a year ago. "This solid performance is all the more gratifying considering that we are in the midst of evolving from a utility holding company to an energy services company," said Willis B. Wood Jr., chairman and chief executive of the Los Angeles-based parent of Southern California Gas Co.

The battle between high-tech swimsuit manufacturers TYR and Speedo has escalated in a significant way, moving from the pool deck to the legal arena. Huntington Beach's TYR Sport Inc. upped the stakes by filing suit on Monday in federal court against Warnaco Swimwear Inc., parent company of Speedo and producer of the news-making LZR Racer swimsuit. TYR did not specify the damages it was seeking but did estimate that the long-term loss to the value of its brand could reach $500,000.

Accounting firm PricewaterhouseCoopers will pay $2.4 million in a settlement with U.S. market regulators that closes the book on an investigation of apparel maker Warnaco Group Inc.'s 1998 financial results, authorities said Tuesday. As part of the agreement with the Securities and Exchange Commission, Warnaco -- maker of Speedo swimsuits and Calvin Klein jeans -- agreed to settle charges of securities fraud without admitting or denying wrongdoing.

Ocean Pacific Apparel Corp., the Irvine-based clothier that once epitomized the country's surfing craze, will be acquired by Warnaco Group Inc., the companies said Wednesday. Warnaco -- the New York-based maker of Speedo swimsuits, Olga bras and Calvin Klein jeans -- will pay the investment group Doyle & Boissiere Fund I $40 million and assume $1 million in debt if regulators approve the deal. Warnaco said it was attracted to Ocean Pacific's "brand equity."

Linda Wachner, former chief executive of clothing maker Warnaco Group Inc., must defend a lawsuit accusing her and other officers of defrauding investors, a U.S. appeals court ruled. The suit names Wachner, former Chief Operating Officer William Finkelstein and ex-general counsel Stanley Silverman. A Wachner spokeswoman said the case is "entirely without merit, and she will defend it vigorously."

Warnaco Group Inc., the maker of Calvin Klein jeans and Olga bras that emerged from Chapter 11 bankruptcy in February, agreed to sell its A.B.S. by Allen Schwartz unit for an undisclosed price. The Los Angeles-based unit is being sold to designer Allen Schwartz and Armand Marciano, New York-based Warnaco said. Marciano is one of the brothers who founded Guess Inc. Warnaco sought bankruptcy protection in June 2001, unable to pay debt from acquisitions and licensing agreements.

Warnaco Group Inc., maker of Calvin Klein jeans and Olga bras, said Wednesday it would close its 44 Speedo Authentic Fitness swimwear stores in the U.S. and sell an intimate-apparel plant in Honduras to trim costs. Warnaco operates 10 Speedo stores in California, including at Century City Shopping Center, the Santa Monica Place and the Fashion Square Mall in Sherman Oaks. The New York-based company also notified employees in Europe that it may cut jobs as sales of Warner's brand bras decline.

Warnaco Group Inc. said the Securities and Exchange Commission may file charges against the bankrupt maker of Calvin Klein jeans and Speedo swim suits for violating accounting regulations. An internal probe found accounting errors in Warnaco's Designer Holdings unit, leading to an earnings restatement, Warnaco said in a regulatory filing. Warnaco, which ousted Chief Executive Linda Wachner in November, has replaced "certain financial staff" and changed the way it accounts for some purchases.