-
Retail bankruptcies and the circle of life
The last several years have seen numerous chapter 11 bankruptcies with the most recent being The Sport Authority. It may seem counterintuitive, but bankruptcies are a sign of vibrant industry and give rise to new opportunities for those who know where to look.
-
Teen apparel retailer hires financial advisors
Pacific Sunwear of California has hired financial advisors to help deal with its maturing debt, according to The Wall Street Journal.
In 2011, PacSun received a $100 million credit line from Wells Fargo and a $60 million loan from an affiliate of Golden Gate Capital. Both loans will be due in December, the report said.
Similar to other teen retailers, PacSun has been dealing with increased online competition and a shift in teen spending. The company has had three consecutive quarters of declining sales and negative same-store sales.

