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PacSun Officially Files for Bankruptcy

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Earlier this week it was reported that PacSun could be filing for chapter 11 bankruptcy. According to Bloomberg, the company was facing a debt of around $160 million after shares dropped 90 percent within the last 12 months. It was originally suggested that the official announcement wouldn't come until next week, but the California-based retailer took to its website this morning to publish a letter addressing the company's future. In the message to its customers written by its CEO Gary H. Schoenfeld, PacSun confirms that it will be filing for chapter 11 protection. The company has reached an agreement with Golden Gate Capital in which it will become a privately owned company. It also states that its board of directors has approved a plan of reorganization to help the retailer gain long-term success. Check out our new channel at https://goo.gl/43ac5w Subscribe to Complex for More: http://goo.gl/PJeLOl Check out more of Complex here: http://www.complex.com https://twitter.com/ComplexMag https://www.facebook.com/complex https://www.instagram.com/complex/ https://plus.google.com/+complex/ COMPLEX is a community of creators and curators, armed with the Internet, committed to surfacing and sharing the voices and conversations that define our new America. Our videos exemplify convergence culture, exploring topics that include music, sneakers, style, sports and pop culture through original shows and Complex News segments. Featuring your favorite celebrities, authoritative commentary, and a unique voice, our videos make culture pop.
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Text Comments (575)
Alvaro Calmet (18 days ago)
Pacsun was an awesome store with brands like independent and santa cruz. Its the thrashy-skaty environment and the brands that made that store. These dudes tried to make it like urban outfitters and clearly their loyal costumers like me stopped going there and now shop at skate-warehouse.com for those awesome brands. They are probably focused more on selling their own apparell now too so other brands left them. I miss the old pacsun. Not the caqui fancy piece of shit-female looking store it is now. :(
fredfredburger28 (1 year ago)
Maybe it was because their clothes are dogshit now
Kenny (2 years ago)
Yo I don't fuck wit zumiez too much but why all of you hating on it
Darnell Bodhi (2 years ago)
fuck zumiez, pacsun, tillys, etc. fuck mall kids
Xavier Reivax (2 years ago)
Well people are finally realizing paying 50$ for a shirt is ass as fuck 😂
eros (2 years ago)
Most of pacsuns clothes are shit and are a joke. Except for FOG 🤘🏼
James (2 years ago)
Damn Pacsun. Well at least we have Tilley's, Zumiez, and all those other stores mall rats love to go
Benji Garcia (2 years ago)
trippin on da pricez
Najee Williams (2 years ago)
There prices are so high that I don't even want to pay for any of their products unless it's a clearance rack item
LIKEASUMBOD (2 years ago)
The place where I get my denim time to look for a new place to buy some denim.....
Huey Newton (2 years ago)
Does this mean they'll cut down them high ass prices ?
Kia Mitchell (2 years ago)
PacSun's expensive.
Yeezy Season (2 years ago)
can't believe I used to buy 40 dollar shirts from this place, on the reg too
Blayzine (2 years ago)
they better ask mark zuckerberg for a loan
Young Savage (2 years ago)
Keep it real , DOES ANYBODY CARE ABOUT WHAT EMILY BE SAYIN😂😂😂
imtoogood23 (2 years ago)
They need to lower those damn prices. Maybe they'd make some money
gawdy66 (2 years ago)
that's what they get for not having anything over a xL size
Noe Aguilar (2 years ago)
My store 😭
aziz mutawa (2 years ago)
Well maybe if they shipped internationally, they would be making alot more money.
andrew viramontes (2 years ago)
They pulling a Donald trump 🤔
vsvp_1998 (2 years ago)
Niggas still shop at pacsun lmao ?
Evan Marion (2 years ago)
if pacsun was more diverse in thier apparel they would do better business
Michael Sanchez (2 years ago)
they should of stuck to selling mostly skate brands like they use to. not this fake hype beast fake surfer bullshit they where trynna go for in the end
Soundbwoy Jay (2 years ago)
Thats cause they didn't hire me, good for them!!
RoIIingStoned (2 years ago)
so u like to sweat huh emily.
James Solano diaz (2 years ago)
fuck my favorite store
C Pv (2 years ago)
lmao that closing down sale gonna be lit
Marcus Rose (2 years ago)
shit is always so damn expensive
Bob Stone (2 years ago)
For complex news I'm thunder dome
Brandon Cherry (2 years ago)
Fuck PAC sun that fake ass BS. HIGH ass prices
Great Value Bleach (2 years ago)
Is it just me or is Emily's hairline getting the Lebron treatment?
ulises herrera (2 years ago)
because they buy too much and don't sale enough plus they're not good at keeping up with new trends
Smoke AZ (2 years ago)
Fear Of God fucked now lmao
mxc99 (2 years ago)
They're clothes are basic and over priced I'm going to ruel 21
Cielo Rodriguez (2 years ago)
lessen the prices and sales will go up!!!
Chris Estrada (2 years ago)
noooo thats my shit. i get every thing from there😭😭 im so fucked if it does. ive never been to a better fkn store
PiFfStAr5 (2 years ago)
That store was hella dry anyway everybody dressing alike all droopy n shit good riddance. Everyday fits wit ya adidas n saggy extra shirt
NameOfAllNames (2 years ago)
shit thats were i get all my socks, fuck
Young Target (2 years ago)
Its cause their shit is to expensive
Who remembers that Anchor Blue though
Carson Miriani (2 years ago)
I was hoping for zumiez to go bankrupt not pacsum
Sixtus (2 years ago)
that's what you get for not letting me get any limited releases.
Harris D (2 years ago)
i work at pac sun
Will Thompson (2 years ago)
Great selection but overpriced as hell
Oscar Perez (2 years ago)
How? Last time I checked, this place was making bank
Spradley_Did_it (2 years ago)
Selling 60 dollar jeans and 75 dollar shirts ... Smh oh well
SMECK (2 years ago)
I hope Zumiez is next
MrItsRewind (2 years ago)
good. Thats what they get for skimping everybody with their boo boo ass site when they released the yeezys
Ricky McFly (2 years ago)
Urban Outfitters 😤🔥 same price and better stuff
Christian (2 years ago)
L for doing news on pacsun
Steezy J (2 years ago)
fuck that store ..... fake ass hba style t shirts , non balmain bikers , and other hypebeast shit
BERNIE (2 years ago)
When's the sale? I MEAN SOME 80% OFF SHIT.
beatzbymax (2 years ago)
Wtf?! I just bought a shirt there yesterday
Zeus Ramirez (2 years ago)
That's what they get for having crazy prices, no one stupid enough to pay $50+ for jeans
Julio (2 years ago)
How these niggas filing for bankruptcy yet zumiez dumbass store still goin
Steven Cruz (2 years ago)
They have some really good jeans
Cal Livingston (2 years ago)
Pacsun is going bankrupt bc their prices to damn high
LikeImJohnWall (2 years ago)
Ive never purchased anything from pac sun Llf
AQUAPHREESH193 (2 years ago)
haha shieeet pacsun was my shit in 2008 back when a nigga could still fit me jewels into they jeans hahaha
Malcolm (2 years ago)
rip white fuckboys
KEN. (2 years ago)
i literally just bought a shirt from pacsun not too long ago wtf.
Slump Funeral (2 years ago)
How you gonna charge me $50 for a t shirt then go bankrupt???
James Le (2 years ago)
😭😭😭 fog releases and adidas release
Boyinthehouse1 (2 years ago)
Why :(
Boyinthehouse1 (2 years ago)
No ;(
Barlos (2 years ago)
Emily doesn't do anything wrong and she still irks my shit
kallmehh (2 years ago)
Rue 21 took they shit
Robert Garcia (2 years ago)
Emily's tits look like they need 2 file for bankruptcy
Jaironcain Cain (2 years ago)
Girls y'all got forever 21 and whatever the fuck else y'all shop at, dudes shop at your local skate shop 👍🏾
Kimani Graham (2 years ago)
Aw come on fam. Where else am I gonna bag hip white hoes at the mall?
ChampGadson (2 years ago)
FUCK I WORK FOR PACSUN😭
Pedro Cruz (2 years ago)
lol fuckboys everywhere are dying rn
q.Edits (2 years ago)
emily i want to fuck you so bad
J Bravo (2 years ago)
Sports Authority and now PacSun. Who will be next?
Jelani TroiX (2 years ago)
I did not know a god existed.
KingLulzington (2 years ago)
RIP all the wanna be Cali hipsters
KingLulzington (2 years ago)
LOL
Sensei River Page (2 years ago)
FINALLY! Zumiez is next. where will fuck boys get their clothes now????????
Baegels Are Bae (2 years ago)
zoomies > PacSun
John DelaCruz (2 years ago)
Good they were overpriced anyways
Louis rodriguez (2 years ago)
This is the truth for all brick and mortar stores
Fathom 3000 (2 years ago)
their shit is so fuckin expensive
superdave601 (2 years ago)
Over priced cheap clothing
Sam Chabert (2 years ago)
fuck pac sun
cabbage (2 years ago)
FINALLY!! I hate their employees!!
Ben (2 years ago)
No FOG x Pacsun then?
Philly4Life 057 (2 years ago)
Wow. First they take tillys away from my mall now maybe Pacsun ???? Wow
Faro Zander (2 years ago)
Only had shit there anyways
kriselda garza (2 years ago)
They're not closing why tf y'all talking about liquidation sales
Jessie Salinas (2 years ago)
Shit was basic asf anyway
Christian Alvarez (2 years ago)
No shit they don't have any sales lol
Rachel Freeman (2 years ago)
That's what they get for them high ass prices
BLINDEYE (2 years ago)
aha finally, time to PacUp boys
Adriell Ramos (2 years ago)
It's prolly cuz there shit is expensive
ItsKidBreezy (2 years ago)
I get all my diamond stuff from there
JAMAL C. (2 years ago)
FINALLY THEY BE SELLING CLOTHES REALLY EXPENSIVE EXPECTING PEOPLE TO BUY IT.
2 Pap (2 years ago)
shut one down in my mall
3forwade (2 years ago)
So many fuck boi's will be out of clothes to wear
3forwade (2 years ago)
Including me .

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