Trustee, creditors at odds over Pacific Sunwear bonus plans

A U.S. Trustee associated with bankrupt retailer Pacific Sunwear stated that an executive bonus plan proposed by the company must be rejected as its terms virtually guarantee payments.

However, Pacific Sunwear’s unsecured creditors support the payout plan, believing it will help the company emerge from bankruptcy.

The retailer had filed for Ch-11 bankruptcy in April 2016 and is engaged with creditors to emerge as a viable company post restructuring.

Source: Reuters

 

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