Pacific Sunwear of California Inc fka PSUNQ

[1manband]

Good points, however they are still in business and will continue to be selling the same overprice clothes, doing the exact same thing before the BK

That is what Chapter 11 Bankruptcy is for. REORGANIZATION. The debt holders have first call on the assets, as they are first in line. They feel that PSUN is worth more as an operating company than as a dead one, which is probably true, considering many of their competitors in the space are now dead or severely pruned back, and there is literally no value in mall space today.

So yes, the business is still operating, just under new owners and with their debt and liabilities either renegotiated or swapped for the equity. Again, that is how bankruptcies work.

Nothing in the PSUN bankruptcy case is in any way unusual. In fact, it is pretty much a textbook pre-packaged Chapter 11 case.