Pacific Sunwear of California Inc fka PSUNQ

[Greus]

They had plenty of money to draw from the golden gate loan. And they would have survived, as they stated to have enough funds for the calendar year, implementing cost reductions and selling the real estate. The first debt payment wasn't until December. They didn't have to declare bankruptcy, especially without notifying the share holders. Some shareholders didn't find out until May/June. They didn't have to rush into bankruptcy. However apparently it doesn't matter. The company is being taken private and all the shares are cancelled. Millions of dollars in executive bonus money? Obviously there was incentive to tank the share price and delist. None of the execs should be forgiven in how they handled this. Hopefully people will remember this and the upside down flag shirt fiasco on Memorial day and not shop there. At least the employees that got screwed, have legal representation and will get something.