Wednesday, September 7, 2016

Pacific Sunwear Has ‘Retailer’s Dream’ as Bankruptcy Wraps Up

Image result for pacsunPacific 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.

“That’s 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

No comments: