The result, eventually, was a liquidity squeeze that sent the company into a death spiral. Lenders refused to finance inventory; vendors wouldn't extend credit; the venture capitalists pulled out. By the end, Peterman didn't even own the rights to his own name anymore. "I'll not disguise my feelings," writes Peterman.
Is J. Peterman still in business?
Trendy catalog retailer J. Peterman Co., which last year launched a major expansion effort that included opening its first West Coast retail store at Fashion Island Newport Beach, is going out of business. Founder John Peterman said Monday that last-ditch attempts to find a buyer for his struggling company had failed.