Cherokee Inc. Plans Public Stock Offering

Cherokee Inc., a Sunland apparel maker, hopes to raise up to $22 million in a public stock offering.

Last fall, Cherokee scrapped earlier plans to raise about $40 million through a public offering.

Now that the stock market has staged a recovery, Cherokee hopes to use the proceeds from selling 2.5 million common shares--which it expects to cost $7 to $9 each--to buy back some of the company’s notes on the open market, to repay some bank debt and for working capital.