PacSun Reported to be Preparing for Chapter 11
Transworld Business is reporting that struggling American retailer PacSun may be filing for Chapter 11 bankruptcy as early as next week. PacSun joins the list of other retailers filing for Chapter 11 in the last few months - American Apparel, Quicksilver and Wet Seal.
Pacific Sunwear, which operates about 600 stores, had long-term debt of $97 million and $11.3 million of cash and cash equivalents as of October.
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