According to a new report by Bloomberg, PacSun is on the verge of declaring bankruptcy. The Chapter 11 bankruptcy could be declared as early as next week according to the report. PacSun has not made a profit since 2008, and shares have fallen roughly 90% in the past year. If PacSun does indeed file for bankruptcy, it could mean the end of the beloved retail giant and the closing of over 613 stores. On the bright side…this could mean big sales. Stay tuned as the story continues to develop.
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