Struggling teen retailer Pacific Sunwear Inc. on Wednesday snagged a key $60 million five-year term loan from Golden Gate Capital and said it would use a portion of that money to help it close upward of 200 stores over the next 14 months.
PacSun, which more than doubled its third-quarter net loss, also gave Golden Gate two board seats and the right to buy 19.9 percent of its stock, or 16.7 percent on a fully diluted basis, at $1.75 a share.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)