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Pacific Stereo temporarily closed 49 of its stores.

May 23, 1986

The stereo equipment chain said it closed the stores nationwide while undergoing reorganization under Chapter 11 of the U.S. Bankruptcy Code. "Pacific Stereo is currently negotiating with a couple of companies who might be interested in acquiring it," said William Parness, a spokesman for Pacific Stereo's consultant firm on the reorganization. The chain is moving its entire inventory into the 15 stores remaining open for a liquidation sale beginning today. It said it didn't know how long the 49 stores would be closed.

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