Cherokee Inc. announced that it has entered into an amendment to its senior secured credit facility with Gordon Brothers Finance Company, as administrative agent and collateral agent for the lenders from time to time party thereto. Also on December 28, 2018, the Company entered into Subordinated Note Agreements with each of Jess Ravich, a member of the Company’s Board of Directors, Cove Street Capital LLC and Jeff Bronchick, Lead Principal Portfolio Manager of Cove Street Capital, which is a major stockholder of the Company and Dwight Mamanteo, a member of the Company’s Board of Directors. The Amendment permits the Company to enter into the Subordinated Notes and for such Subordinated Notes to be repaid in certain circumstances prior to their maturity in November 2021. The Amendment also removes the requirement in the senior secured credit facility that the Company raise $2.0 million of additional capital before May 4, 2019 if the Company’s average working capital does not exceed an agreed upon level at the close of the Company’s fiscal year ending February 2, 2019.