PacSun, the Anaheim-based surfwear brand, has hired financial advisers to help with its $160 million debt, payable at the end of the year, according to The Wall Street Journal.
The troubled brand is working with Washington, D.C.-based restructuring firm FTI Consulting Inc. and New York-based investment bank Guggenheim Securities.
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 will be due in December.
During the first three quarters of 2015, PacSun reported net sales 3 percent lower than the same time period the prior year. The company ended the quarter with 611 stores. The company also reported a loss of $3.4 million for the th…
Read the full article at: http://www.ocregister.com/articles/million-706904-company-pacsun.html