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PacSun Emerges From Chapter 11

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Another teen retailer has received a reprieve from doom.

Pacific Sunwear, the California-inspired chain better known as PacSun, emerged from Chapter 11 Wednesday with a new owner, San Francisco-based private investment firm Golden Gate Capital.

“We thank Golden Gate Capital for their partnership, which enabled PacSun to navigate the restructuring process in only five months, and we look forward to continuing our strong working relationship as we embark on our next chapter,” PacSun CEO Gary Schoenfeld said. “For more than 20 years, PacSun has been the largest retail partner for many of our industry’s most dynamic emerging brands, and we are very pleased to have had Golden Gate Capital’s full support in ensuring that all branded partners—both large and small—are to be paid in full as part of our plan.”

Read more at Sourcing Journal.