{"id":26876,"date":"2011-12-07T14:37:18","date_gmt":"2011-12-07T22:37:18","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=26876"},"modified":"2011-12-07T14:39:27","modified_gmt":"2011-12-07T22:39:27","slug":"pacsun-to-close-stores-the-street-applauds","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=26876","title":{"rendered":"PacSun To Close Stores, The Street Applauds"},"content":{"rendered":"<p><a href=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2011\/05\/pacsun_logo.png\" onclick=\"window.open('http:\/\/www.boardistan.com\/wp-content\/uploads\/2011\/05\/pacsun_logo.png','popup','width=189,height=70,scrollbars=no,resizable=yes,toolbar=no,directories=no,location=no,menubar=no,status=yes,left=0,top=0');return false\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2011\/12\/pacsun_logo-tm1.jpg\" height=\"37\" width=\"100\" border=\"1\" align=\"right\" hspace=\"4\" vspace=\"4\" alt=\"Pacsun Logo\" \/><\/a>Poor <strong><a href=\"http:\/\/www.pacsun.com\/\" target=\"_blank\">Pacific Sunwear<\/a><\/strong>. It appears they didn&#8217;t find anyone to <strong><a href=\"http:\/\/www.boardistan.com\/?p=26652\" target=\"_blank\">help them pay the rent<\/a><\/strong> and are now going to be forced to close up to 200 stores in the coming 14 months, according to a story in the <strong><em><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052970203501304577084803783855584.html\" target=\"_blank\">Wall Street Journal<\/a><\/em><\/strong>.<\/p>\n<blockquote><p>In a deal announced with PacSun&#8217;s earnings Wednesday, Golden Gate Capital will receive the option to buy up to 19.9% of PacSun&#8217;s shares at a price of $1.75 in exchange for a five-year $60 million secured-term loan expected to help PacSun buy out leases and shutter struggling stores. Golden Gate will also receive two seats on PacSun&#8217;s board.<\/p><\/blockquote>\n<p>Sadly, this is the best news the street has heard from the company all year and it sent the company stock price rocketing up 37 percent in after hours trading to a whopping $1.85 a share, according to the story. Just think if they closed 400 stores.<\/p>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052970203501304577084803783855584.html\" target=\"_blank\">Wall Street Journal<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Poor Pacific Sunwear. It appears they didn&#8217;t find anyone to help them pay the rent and are now going to be forced to close up to 200 stores in the coming 14 months, according to a story in the Wall Street Journal. In a deal announced with PacSun&#8217;s earnings Wednesday, Golden Gate Capital will receive [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[10,16,12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/26876"}],"collection":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26876"}],"version-history":[{"count":2,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/26876\/revisions"}],"predecessor-version":[{"id":26879,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/26876\/revisions\/26879"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26876"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}