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Cherokee's stock plunges toward 20-year low after surprise loss, credit facility discussions

Shares of Cherokee Inc. CHKE, +12.32% plummeted 25% toward a 20-year low in premarket trade Friday, after the marketing and fashion brands company reported a surprise fiscal first-quarter loss. Separately, the company said it had failed to comply with certain covenants in the Cerberus credit facility, but Cerberus agreed to not exercise its rights or...