Pacific Sunwear of California Inc fka PSUNQ

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PSUN, is preparing Bankruptcy! The news reports:

"Fickle teens and the rise of fast-fashion stores may be about to claim yet another once-prominent teen apparel chain.

According to Bloomberg, surf and skate apparel purveyor Pacific Sunwear (PSUN - Get Report) is preparing to file for Chapter 11 bankruptcy. The filing could come as early as next week, says the report.

The news comes just a few months before the start to the critical back-to-school shopping season, and should be little surprise.

Pacific Sunwear has for years has struggled to connect with teens opting for trendy and cheap fashion pieces from H&M and Forever 21, instead of the company's more expensive looks inspired by California lifestyles."