March 26, 2017 8:32 AM ET

Specialty Retail

Company Overview of Pacific Sunwear Stores Corp.

Company Overview

Pacific Sunwear Stores Corp. owns and operates apparel and accessories retail stores. The company offers girls’ apparel; guys apparel; guys backpacks, beanies, belts, boxers, colognes, hats, socks, sunglasses, and wallets/buckles; girls bags/purses, backpacks, beddings, belts, beanies, fragrances, hats, jewelry, loungewear, panties, socks, sunglasses, wallets, watches, and gifts and stuff; guys sneakers, slip ons, and sandals; and girls slip ons, sneakers, and beach sandals. The company sells its products through sun wear and online stores. The company was founded in 1982 and is based in Anaheim, California. Pacific Sunwear Stores Corp. operates as a subsidiary of Pacific Sunwear of Californ...

3450 East Miraloma Avenue

Anaheim, CA 92806

United States

Founded in 1982

Phone:

714-414-4000

Fax:

714-414-4291

Key Executives for Pacific Sunwear Stores Corp.

Pacific Sunwear Stores Corp. does not have any Key Executives recorded.

Pacific Sunwear Stores Corp. Key Developments

Revised Reorganization Plan Approved for Pacific Sunwear of California Inc.

The US Bankruptcy Court approved the revised plan of reorganization of Pacific Sunwear of California Inc. on September 6, 2016. The debtor has filed its revised plan in the Court on September 6, 2016. As per the revised plan, administrative claims, professional compensation, DIP facility claims of $100 million, priority tax claims of $1 million and statutory fees shall be paid full in cash. Other secured claims of $3 million and priority non-tax claims shall be paid full in cash. ABL claims shall receive full payment in cash. Term loan claims will have recovery of less than 100%. Mortgage notes claims against parent, PS stores and Miraloma of $39.29 million will be reinstated. Allowed Qualified unsecured trade claims of $33 million shall be paid 50% on the effective date and remaining 50% on December 15, 2016. General unsecured claims are estimated in the range of $11 million to $22 million and will have recovery in the range of 1.8% to 3.6%. Section 510(b) claims are estimated to be nil. Intercompany claims estimated at $96.44 million and intercompany interests shall be reinstated. Parent interests shall not receive any distribution under the plan and shall be cancelled. The plan shall be funded through cash on hand, new ABL facility, new money investment of $20 million and issuance of new parent interests.

Seventh Amended DIP Agreement filed by Pacific Sunwear of California Inc.

Pacific Sunwear of California Inc. filed seventh amended DIP agreement on August 26, 2016. As per the amended agreement dated August 26, 2016, the Bankruptcy Court shall grant approval for reorganization plan by September 8, 2016.

Sixth Amended DIP Agreement filed by Pacific Sunwear of California Inc.

Pacific Sunwear of California Inc. filed sixth amended DIP agreement on August 11, 2016. As per the amended agreement dated August 10, 2016, the Bankruptcy Court shall grant approval for reorganization plan by August 26, 2016.

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