The Company also expects to incur cash charges during fiscal 2007 of approximately $10 million to $15 million attributable to lease termination, severance and contingent agency fee costs. The Company anticipates the overall impact of the store closings, net of expected inventory liquidation results and tax benefits to be realized during 2007, will be cash flow positive.
The Company expects to begin closing these underperforming demo doors during the first half of fiscal 2007 and has selected Hilco Merchant Resources, LLC and Hilco Real Estate, LLC to manage the closing process.
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Pacific Sunwear of California Inc, USA
marketing@alchempro.com
