Pacific Sunwear of California Inc fka PSUNQ

[Chicago Bankroll]

Golden Gate is Taking stock, then adding an additional 20 million in bonds. the question remains, will common shareholders be wiped clean? No date has been set. http://www.bloomberg.com/news/articles/2016-09-06/pacific-sunwear-has-retailer-s-dream-as-bankruptcy-wraps-up

Under the reorganization plan approved Tuesday by U.S. Bankruptcy Judge Laurie Selber Silverstein in Delaware, PacSun will give all its stock to affiliates of private equity firm Golden Gate Capital, its senior lender.
In exchange, Golden Gate will reduce the amount it’s owed by PacSun to about $30 million initially from $88 million, Gary Schoenfeld, the retailer’s chief executive officer, said in an interview. Golden Gate has also agreed to invest $20 million in the company, most likely in form of new debt, he said.