Cashing In on a Defunct Line : Fashions For Less bought much of the Koala Blue inventory, and the label’s demise can mean a shopper’s delight.

As is often the case these days, a manufacturer’s big loss is the bargain shopper’s gain. In this case, the winners are fans of Olivia Newton-John’s popular label, Koala Blue, which ceased manufacturing last year.

Fashions For Less in Thousand Oaks recently purchased a large part of the Koala Blue inventory, and the current price breaks might provide a clue as to why the label collapsed.

One design in the romantic Chantilly Lace pattern that retailed for $97 was perhaps too pricey for the Koala Blue target market. It is available at Fashions For Less for $21.99.

You don’t have to be a Koala Blue junkie to enjoy the soft look of its chiffon prints. A fully lined skirt with a poet top was originally $179. Now you can pick it up for $40. Quite a comedown.

We like the sweaters, which are 100% cotton and come in several colors--olive, black, cream, pink and mint in eight different styles including cowl necks, boat necks, V-necks and a few cardigans--and instead of last year’s asking price of $196 to $224, $29.99 will do just fine.

True, the goods are not current, but these designs have a timeless look--and irresistible prices.

The vintage styles of the ‘50s and ‘60s may be in fashion for a while. Scouring the trendy shops on Melrose or Montana avenues for these garments can be a tedious (and pricey) experience. But there’s a wholesale warehouse in Northridge filled with men’s apparel, purchased from a manufacturer who held onto it all these years.

The merchandise is “new” and still in the original boxes of 30 to 40 years ago. And all items are less than $10. That warehouse will be open to the public for one week, starting tomorrow.

Dress shirts, pure cotton and in the high-collared styles of the ‘50s, are $6. Some are a white-on-white pattern, some have French cuffs; some are short-sleeved, with two pockets.

Turtleneck shirts in rayons, in long sleeves and short sleeves, are $8, as are some cotton Mandarin-collared shirts in blue or white with pearl buttons.

Some unusual cotton sweater vests (very in right now) are $5.

All kinds of ties from this era--bow, square-bottom knits, wools, foulards and “string-beans” are $4. Socks in bright colors in Angora, cotton lisle and rayon are $1.60. Vintage cuff links and tie clips are $3.

Everything in this inventory is unworn. Most of it is in the original packaging, and all of it is made in the United States.

Judging by what comparable merchandise would sell for today, these prices are like taking a trip back in time.

Geri Cook’s Bargains column runs every Friday in Valley Life! Questions about shopping may be sent to her, in care of Valley Life!, Los Angeles Times, 20000 Prairie St., Chatsworth 91311. Letters will not be answered individually, but topics of general interest will be discussed in future columns. Geri Cook can be heard from 9 to 10 a.m. Saturdays on KIEV 870-AM.

WHERE TO SHOP

* What: Fashions For Less, 2715 Thousand Oaks Blvd., Thousand Oaks.

* Hours: 10 a.m. to 6 p.m. Monday, Tuesday, Wednesday and Saturday; 10 a.m. to 8 p.m. Thursday and Friday; 11 a.m. to 5 p.m. Sunday.

* Cards: Discover, MasterCard, Visa.

* Call: (805) 495-8344.

* What: Vintage Warehouse Sale, 19365 Business Center Drive, Unit 9, Northridge.

* Hours: 10 a.m. to 5 p.m. Monday to Saturday.

* Cards: None. Cash only.

* Call: (818) 772-2900.