{"id":49810,"date":"2016-04-09T12:13:04","date_gmt":"2016-04-09T19:13:04","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=49810"},"modified":"2016-04-11T12:24:57","modified_gmt":"2016-04-11T19:24:57","slug":"pacsun-files-for-bankruptcy-protection","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=49810","title":{"rendered":"PacSun Files For Bankruptcy Protection"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-40741\" src=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2013\/03\/pacsun_logo-tm.jpg\" alt=\"pacsun_logo-tm.jpg\" width=\"100\" height=\"37\" \/>After nearly\u00a0a decade of losing money <strong>Pacific Sunwear of California<\/strong> has finally filed for bankruptcy protection according to a story on <a href=\"http:\/\/www.reuters.com\/article\/us-pacific-sunwear-bankruptcy-idUSKCN0X32OE\"><strong>Reuters.com<\/strong><\/a>.<\/p>\n<blockquote><p>Citing &#8220;significant and unusual trading,&#8221; lawyers for the retailer asked a judge to restrict trading on Thursday due to concerns that a significant change in ownership could impair its ability to use tax benefits on operating losses down the road. . .\u00a0Founded in 1982 as a surf shop, PacSun has posted an annual net loss since the financial crisis hit in 2008.<\/p><\/blockquote>\n<p>In what has become standard\u00a0practice, the company is hoping to hand off\u00a0all its debt then\u00a0go\u00a0private with <a href=\"http:\/\/www.goldengatecap.com\"><strong>Golden Gate Capital<\/strong><\/a>\u00a0where the new owners\u00a0can run the whole game\u00a0over again in a portfolio that includes <strong>Eddie Bauer<\/strong>, <strong>California Pizza Kitchen<\/strong>, <strong>Red Lobster<\/strong>, and <strong>J.Jill<\/strong>.<\/p>\n<p>For a\u00a0more informed discussion of the topic <a href=\"http:\/\/www.jeffharbaugh.com\/the-pacsun-bankruptcy\/\"><strong>click here for Jeff Harbaugh&#8217;s take<\/strong><\/a>.<\/p>\n<p><strong>[Link: <a href=\"http:\/\/www.reuters.com\/article\/us-pacific-sunwear-bankruptcy-idUSKCN0X32OE\">Reuters<\/a>]<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After nearly\u00a0a decade of losing money Pacific Sunwear of California has finally filed for bankruptcy protection according to a story on Reuters.com. Citing &#8220;significant and unusual trading,&#8221; lawyers for the retailer asked a judge to restrict trading on Thursday due to concerns that a significant change in ownership could impair its ability to use tax [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","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\/49810"}],"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=49810"}],"version-history":[{"count":4,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/49810\/revisions"}],"predecessor-version":[{"id":49814,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/49810\/revisions\/49814"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49810"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}