Golden Gate buys teen retailer PacSun out of bankruptcy
September 09, 2016
Clothing | Anaheim, CA | Buyout
Golden Gate Capital has completed its acquisition of Pacific Sunwear of California, the teen apparel retailer that filed for Chapter 11 bankruptcy in April. Golden Gate, which already holds a portion of PacSun's term loan debt, has converted more than 65% of that debt into equity and equipped the restructured company with an additional $20 million in capital for long-term growth. Wells Fargo has also provided the company a five-year, $100 million line of revolving credit.