Cherokee Inc. Engages Financo Inc. as its Exclusive Financial Advisor.VAN NUYS, Calif.--(BUSINESS WIRE)--Nov. 15, 1999-- Cherokee Inc. (Nasdaq: CHKE) announced that it has retained Financo Inc. as its exclusive financial advisor to review and analyze the financial and strategic alternatives available to Cherokee, with a view towards meeting its long-term strategic objectives, maximizing its shareholder value and further developing and growing its businesses and brand names. Strategic alternatives that are being evaluated may include the sale of Cherokee, a merger or combination with a strategic operator, the formation of strategic alliances or joint ventures, the acquisition of another company, and other similar opportunities. Robert Margolis, the Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cherokee, stated, "With the rapid consolidation in the merchandising sectors, we believe the timing is ideal to explore Cherokee Inc.'s strategic alternatives in order to enhance our shareholder value. We are interested in exploring strategic opportunities that will position Cherokee to be a stronger, more competitive force in the marketplace by combining our strengths and profits with those of another company." Cherokee is one of the leading licensors of brand names for apparel, footwear and accessories marketed under the Cherokee(R) and Sideout(R) brand names. The Company is continuing global negotiations for licensing contracts covering multiple categories of merchandise. Cherokee currently has 32 licensing agreements worldwide in many categories, including family apparel and fashion accessories Fashion accessories are items apart from the garment itself, which complement the whole outfit. Fashion accessories include jewelry, gloves, handbags, hats, or scarves. , as well as luggage, cosmetics and footwear. The principal markets for the Company's products are retail customers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and Canada. Financo is a New York-based investment banking firm specializing in mergers, acquisitions, divestitures, restructuring and other financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal for apparel, retailing and other merchandising and consumer product companies. Statements included within this press release that are not historical in nature constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. for the purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provided by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that this press release contains certain such forward-looking statements that involve substantial risks and uncertainties. When used, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to the Company or its management are intended to identify such forward looking statements. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward looking statements. Further management discussion of risks and uncertainties can be found in the Company's quarterly filing with the Securities and Exchange Commission and other periodic filings. |
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