Margolis Returns as CEO of Cherokee

Cherokee Inc. said Friday that it named Robert Margolis chairman and chief executive. Margolis led the casual apparel and footwear company out of bankruptcy two years ago.

In a press release, the company said under an agreement with Margolis, he and two members of his investment group, Jess Ravich and Doug Weitman, will be elected to the company’s board, replacing Peter Brown, Peter Handal and B. Chris Schwartz, who have resigned.

Margolis, who holds a 25% stake in Cherokee, was a founder of the company’s apparel division in 1981.

“I’m elated at having the opportunity to once again lead Cherokee,” Margolis said. “The company’s recent reorganization has left Cherokee virtually debt free and in a strong position to expand the Cherokee consumer franchise.”

Less than six months ago, Cherokee’s second prepackaged Chapter 11 reorganization plan in under two years was approved in U.S. Bankruptcy Court.

Margolis previously served as chairman and chief executive of the Sunland company. He left his post as chief executive of Cherokee in November, 1993, after 13 years with the company.

He is currently president of the Wilstar Group, a private label manufacturing company.

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Shelley Thompson has been named executive vice president of Wells Fargo Bank. Thompson heads the bank’s Private Banking Group which is based in Los Angeles.

Prior to joining the San Francisco-based bank in 1987, Thompson was vice president and general manager of Citicorp’s trust department in Los Angeles.

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Lew Harris, editor of Los Angeles Magazine, announced his resignation. Harris had been with the magazine since 1975 and editor since 1990.

Harris will remain until summer when a new editor will be named.