Home / Knowledge / News / Apparel/Garments / Golden Gate completes acquisition of Pacific Sunwear
Golden Gate completes acquisition of Pacific Sunwear
09
Sep '16
Courtesy: Pacsun
Courtesy: Pacsun
Golden Gate Capital, a San Francisco based private equity investment firm with over $15 billion of capital under management said it has completed acquisition of Pacific Sunwear of California (PacSun), which had filed for bankruptcy earlier. Golden Gate has completed the acquisition after satisfying all closing conditions initiated by the bankruptcy court.

Under the restructuring plan, PacSun has significantly restructured and reduced its long-term debt and annual occupancy costs, as well as improved its capital structure.

Golden Gate Capital has converted more than 65 per cent of its term loan debt into the equity of the reorganised company and has provided a minimum of $20 million in additional capital. Additionally, Wells Fargo has also provided a five-year $100 million revolving line of credit.

PacSun sells a combination of branded and proprietary casual apparel, accessories and footwear targeted at teens and young adults. As of September 7, 2016, it operated 583 stores in all 50 US states and Puerto Rico. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search