Each year the website 24/7 Wall St. lists ten brands that they believe will disappear in the coming year. This year, along with American Airlines, Research In Motion, and Suzuki, the editors included PacSun.
Pacific Sunwear (NASDAQ: PSUN) no longer has the capital to compete. The retailer will be gone by the end of 2013. In the company’s most recent 10-Q, it said one of its biggest risks was running low on capital and not meeting financial obligations. . . What will happen to the retailer? It could be bought by a larger company — its market cap is only $108 million — or it may go out of business with its inventory sold to other retailers.
24/7 Wall St. hasn’t had the best track record when it comes to divining the future, but it’s hard to disagree with much of what they have to say about PacSun.
[Link: 24/7 Wall St.]
