Pacific Sunwear of California Inc fka PSUNQ

[1manband]

But with the debt payment due in December 7th of this year why the rush into BK in April... They still had time and even stated that

Clearly, they didn't. And the debt payment was the least of their worries. The Company was broke with no liquidity at all, according to the last 10-Q filed in December, and they couldn't meet even their current liabilities. The bankruptcy of Quiksilver and the absolute devastation of their retail segment shut the door on their ability to borrow any more money. They needed cash for inventory for the Spring/Summer selling season, which is their busiest time. They were essentially broke in April, which is why they had to file bankruptcy.

I am sure they held out as long as they could, but they were not going to survive any longer without filing for bankruptcy.