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

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search