Subsequent Events

3 Months Ended

Apr. 30, 2016

Subsequent Events

Subsequent Events

(6) Subsequent Events

On May 27, 2016, Cherokee and JPMorgan entered into amendments to the Credit Agreement, the Term Notes and the Revolver in order to (i) amend the maturity dates of each Term Note and the Revolver as follows: (a) the maturity date of the 2013 Term Note is August 31, 2017, (b) the maturity date of the 2014 Term Note is December 31, 2018, (c) the maturity date of the 2015 Term Note is October 13, 2020, and (iv) if any amounts are outstanding thereunder, the maturity date of the Revolver is June 30, 2017, and (ii) permit Cherokee to make stock repurchases in an aggregate amount not to exceed $1,000 without obtaining JPMorgan’s prior consent.