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.. . . more