New Delaware Chapter 11 Filing – Pacific Sunwear Of California, Inc. et al.

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Pacific Sunwear of California, Inc. (Nasdaq: PSUN) and two of its affiliates have commenced cases (Lead Case No. 16-10882 (LSS)) under Chapter 11 of the Bankruptcy Code before the U.S. Bankruptcy Court for the District of Delaware.  The Honorable Laurie Selber Silverstein will preside over these cases.  The debtors have filed a proposed disclosure statement and chapter 11 plan of reorganization and are seeking approval of debtor-in-possession financing.  The petitions (including consolidated list of top 40 creditors), first day declaration and dockets are available through Prime Clerk.  The debtors have published a press release regarding their reorganization.

Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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