Report: Another teen apparel retailer considering bankruptcy filing

The rise of fast-fashion, changing fashion tastes and online commerce may be claiming another teen apparel retailer.



Pacific Sunwear of California Inc. is preparing to file for Chapter 11 bankruptcy, according to Bloomberg, which cited people with "knowledge of the situation.” The report said the filing could occur as early as next week.



The chain has been on a downward spiral for some time, reporting losses every year since 2008, Bloomberg reported. A previous report by 24/7 Wall Street said that Pacific Sunwear had hired financial advisors to assist it as it struggles with a maturing debt burden.



Based in Anaheim, California, Pacific Sunwear, an affiliate of Golden Gate Capital, operated approximately 610 stores as of December 2015, down from approximately 870 in January 2011. The company, which had sales of $826.8 million in 2014, has not yet released its fourth quarter 2015 and full-year results.



Pacific Sunwear is not the only once-popular teen apparel retailer struggling to find its way in the new retail landscape. In March, Aeropostale said it was exploring options, including a potential sale of the company, following a weak holiday performance.