Pacific Sunwear of California Inc. won court approval to exit bankruptcy after cutting debt, closing some stores and pressuring landlords to reduce rent at the malls where the teen-clothing chain does business.
every distressed retailer’s dream,” Poonam Goyal, a retail analyst with
Bloomberg Intelligence said in an interview. But whether Anaheim,
California-based PacSun can succeed is unclear, Goyal said. Most
retailers in the U.S. have too many stores and need to cut back, she
said.. . . more