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Pac Sun Files for Bankruptcy

Company moves to private ownership

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Teen fashion retailer Pacific Sunwear of California Inc. (Anaheim, Calif.) has filed for Chapter 11 bankruptcy protection. The company is planning a debt-for-equity restructuring agreement.

Retailing Today reports the company is also planning to move to private ownership by Golden Gate Capital (San Francisco), a private equity firm.

Pac Sun also stated that it would continue operations at all 593 current locations and does not anticipate any immediate impact to employees.

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