PacSun Has Filed for Bankruptcy

As expected, mall staple PacSun has officially filed for Chapter 11 bankruptcy. CEO Gary H. Schoenfeld took to the struggling retailer's website this morning to confirm the news, stating that private equity firm Golden Gate Capital -- whose portfolio also includes the likes of California Pizza Kitchen, Eddie Bauer and Payless ShoeSource -- will indeed be taking control of the company as it becomes privately owned. Though PacSun has recorded losses every year since 2008 and has seen its shares pl...