Bouncing Back from Bankruptcy to Reinvent a Brand
Most people associate J. Peterman with his Seinfeld character, the eccentric, peripatetic businessman played by actor John O'Hurley. The real J. Peterman, however, is Lexington, Ky., entrepreneur John Peterman, a former Pittsburgh Pirates second baseman who founded his eponymous retail business in 1987 with a single item of clothing, the horseman's duster.
The J. Peterman Company and its fashion/lifestyle catalog (the "Owner's Manual") attracted well-heeled consumers and celebrities such as Clint Eastwood, Paul Newman and, of course, Jerry Seinfeld, who began parodying Peterman and his exuberant catalog copy on his show in 1995. Thanks to the exposure, investors lined up, and J. Peterman expanded, quickly opening 15 stores across the country. But cash flow never caught up. The business went bankrupt and was ultimately sold to Paul Harris Stores.
Memorial Day Subscription Sale- Unlock this subscriber exclusive article and more for 20% off today.
Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.
Get a year subscription today for 20% off. Just use code SAVE20 at checkout.
Entrepreneur Editors' Picks
-
James Dyson Created 5,127 Versions of a Product That Failed Before Finally Succeeding. His Tenacity Reveals a Secret of Entrepreneurship.
-
7 Meaningful Ways Your Business Can Honor Memorial Day
-
Breast Implants Left This Founder With Debilitating Symptoms, So She Launched an Intimate-Apparel Line That Goes Beyond Buzzwords
-
Kids in the Hall's Bruce McCulloch Says TikTok Is the New Punk Rock
-
'I Am Not a Diversity Quota,' Says the Founder Disrupting the Dessert Category
-
Memorial Day Is a Time for Remembrance, So What's With All the Mattress Sales?
-
Pharrell Williams, Contemporary Artist Nina Chanel Abney and Brand-Builder Shaun Neff Announce Launch of Game-Changing NFT Platform