10 Brands to Disappear in 2013
Pacific Sunwear
Pacific Sunwear no longer has the capital to compete. The retailer will be gone by the end of 2013. The company is running low on capital and not meeting financial obligations. Offering “California-style” accessories, primarily sunglasses, shoes and swimwear, the company was started in a surf shop in Newport Beach in 1980. In its recent quarter, Pacific Sunwear lost $15 million on revenue of $174 million. The company is in so trouble as it is too small and is in a commoditized business. Nearly every major department store chain sells products similar to those Pacific Sunwear offers, and so do many niche retailers.
