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,┬áPacific 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