According to Bloomberg
and others with knowledge of the company, Pacific Sunwear (ticker: PSUN
) is preparing to file for Chapter 11 bankruptcy protection. Are brick and mortar shops doomed? Is consumerism on the decline after a less than stellar year? Or is this just karma after releasing a line of clothing by the Kardashians
? Its stock price fell 78% today to 0.07, and things are not looking good. So if a strip mall surf store vanishes, does anyone hear it scream? Or is that just the sound of the Hollister store expanding into the newly vacant space?