PacSun Is Reportedly Preparing to File for Bankruptcy

No surprises here.

By
Fashion
20,395 Hypes 0 Comments

It’s no secret that Pacific Sunwear, better known as PacSun, has been struggling financially as of the past few years, but a new report by Bloomberg spells out just how dire the situation is for the fashion retailer. According to insider sources, PacSun is preparing to file for Chapter 11 bankruptcy as early as next week. Currently, the company is buoyed by a $60 million USD loan from private equity firm Golden Gate Capital, but it seems that its fate is all but sealed at this point. While the Anaheim, California-based retailer currently operates 613 stores as of last December, it has failed to post a profit since 2008 and its shares have dropped 90 percent in the past 12 months. Watch this space for any more news from the ailing mall brand.

Read Full Article

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

847 Users Online

What to Read Next

DC Comics x colette x Casetify "Batman Superman" Capsule Collection
Design

DC Comics x colette x Casetify "Batman Superman" Capsule Collection

A range of iPhone, Apple Watch and Macbook cases that honor the golden age of comic books.

Multi-Talented Kendrick Lamar Collaborator Drops "Precious Possession" & Announces Solo EP
Music 

Multi-Talented Kendrick Lamar Collaborator Drops "Precious Possession" & Announces Solo EP

‘The Feminine: Act 1’ is coming soon.

Ye Ali Is "Serious," So Don't Sleep
Music 

Ye Ali Is "Serious," So Don't Sleep

The L.A.-based crooner has so much talent.


Roald Dahl's 'The BFG' Trailer #2
Entertainment

Roald Dahl's 'The BFG' Trailer #2

For the ’80s babies.

T.I. on His Eventual Legacy and the Transference of Energy Between Him and the Crowd
Music 

T.I. on His Eventual Legacy and the Transference of Energy Between Him and the Crowd

The King of the South sat down with us for an exclusive interview just before taking the Drai’s stage.

Hoodboi Links up With Fool's Gold for "Closer"
Music 

Hoodboi Links up With Fool's Gold for "Closer"

Good move by A-Trak.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.