During the early 1970s, business partners Raymond DeAngelo and John Ortega II curated clothing items from flea markets,[1] reselling them to retailers in Southern California. By 1974, they shifted to conventional retailing and opened their own store, which they soon developed into a retail chain.
In 1983, Clothestime went public, and rapid growth soon followed. They expanded from 98 stores at the time of going public, to 263 stores by 1987.[7]
In 1989, amid a $2.2 million loss (~$4.83 million in 2024) from the previous year, Clothestime changed their marketing strategy, targeting "older" career-oriented customers over the age of 25.[2][8]
By 1992, Clothestime was back to rapid growth,[4] and the company set a goal of opening 1,000 stores by the year 2000.[9] However, operations had already begun to show signs of slowing in 1993.[10]
In January 1995, Raymond DeAngelo resigned from his position as chief executive officer,[11] vice chairman, and director. Prior to his resignation, DeAngelo had been vice chairman since 1982, and chief executive since 1990.[12]
In December 1995, Clothestime filed for bankruptcy for the first time, with plans to close 140 of its 550 stores.[3][13][14]
In January 1997, executives John Ortega II (chairman, chief executive, and co-founder), and Norman Abramson (president and chief operating officer) resigned from their positions at Clothestime.[15][14][11]
In September 1997, a bankruptcy court confirmed reorganization plans for Clothestime. Clothestime's stock was cancelled, and the company went private.[16]
In 2002, Clothestime launched an $8 million marketing campaign.[5]
In January 2003, in the hopes of retooling its image,[17] Clothestime was purchased by JM Associates, an apparel manufacturer in New York.[18]
In June 2003, Clothestime's creditors filed an involuntary bankruptcy petition, claiming more than $700,000 (~$1.14 million in 2024) in missed payments.[19]
In early 2004, Clothestime ceased operations.[20]
In 2012, the bankruptcy case was closed after Clothestime had paid out almost $2 million (~$2.69 million in 2024) in claims to creditors.[21]
As of 2013, Clothestime owed the state of California almost $2.9 million (~$3.84 million in 2024) in unpaid taxes.[21]
