April 2020
More from this Issue
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Dealing with Massive Disruption
In these unusual times, we are pleased to share our retail edition of the Journal of Corporate Renewal. While the global economy is experiencing a massive disruption, and no sector appears to be spared from this downturn, the retail sector’s challenges escalated to new heights. Looking at last five major global economic and health events, […] -
Together, TMA Professionals Will Lead the Recovery
In these extraordinary times, this is our moment to shine. Never before have the terms #BetterTogether and #Opportunity2Impact taken on a more powerful meaning in real time than they do today. We, the professionals of TMA, are on the front lines of combat, prepared to bring back an economy that is on its knees to […] -
Crisis: A Turnaround Professional’s Finest Hour
Life is predictably unpredictable. We have all been reminded of this in the last few weeks and months in connection with the looming global pandemic. Just typing that sentence is a surreal experience. As I write this, the coronavirus—officially named SARS-CoV-2, with its disease being named COVID-19—has been reported in tens of thousands of instances […] -
Retail in Crisis: Communicating Through the Coronavirus
These are unprecedented times. In a matter of days, the coronavirus pandemic virtually shut down American society, and with it, the wheels of industry came to a standstill. There is not one industry that has not been hit with the repercussions of this virus. In fact, “hit” may be an understatement, as the full extent […] -
Improving the Odds of Success for Retail Bankruptcies
Last year saw over 9,300 retail store closures—more than any other year on record and a 60% increase over the roughly 5,800 closures in 2018. Whether one believes the industry is in the midst of the “retail apocalypse” or that what’s happening is merely a matter of survival of the fittest, it is a safe […] -
DIP Financing in Retail Bankruptcy Cases
With the surge in retailers filing for Chapter 11 over the last several years, precedents abound for the debtor-in-possession (DIP) packages put together to finance the bankruptcy cases of retail debtors. Certain patterns and common practices have begun to emerge. A review of large retail Chapter 11 cases suggests there are several key constituencies that […] -
Navigating Liquidity in Retail Restructurings
Throughout a retail restructuring, from the prefiling period through the winddown of the proceedings, debtors and their professionals face unique challenges that arise from the nature of retail operations and the resulting direct impact on liquidity management. Although not an exhaustive recitation of the issues facing a distressed retailer, this article takes a closer look […] -
Managing Risks in Doing Business with Administratively Insolvent Retail Debtors
When a retailer files a Chapter 11 bankruptcy case, its suppliers face the critical decision of whether to continue shipping goods to the retail debtor post-petition. Cutting off all further shipments would limit any further loss but would also guarantee that the supplier had little to no chance of getting paid for prior shipments. It […] -
The Impact of E-commerce on Retail Restructuring
Retail has been one of the most important industries in America for at least 100 years. In 2017, the industry generated $3.4 trillion in sales, and for 2020, the value expected of the industry is more than $3.9 trillion. Nevertheless, the industry has struggled. Just in 2019, more than 9,000 retail stores were closed. In addition, over […] -
Adapting to Retail’s New Realities
The stories about moves made by an iconic toy seller attempting resurrection and a commercial real estate developer’s seeking to empower its retail tenants with advanced customer analytics have valuable lessons for struggling retailers seeking pathways out of distress. The recent history of Toys R Us and Nebraska Crossing offer a window into how new […] -
Milestones
Mark Buren has joined CIBC as managing director, business development, in Baltimore. He most recently was a director with AloStar, a division of Cadence Bank. There, he was responsible for business development of asset-based lending opportunities for middle market companies that were experiencing either growth or a transition within their business. Bruce Van Weele has […] -
Newcomers: April 2020
Alabama Jeffrey T. Baker, Burr & Forman LLP Arizona Matthew Cooper Richard Gould Dalena A. Kensington B. Carter Looney, Maier Marinoni Looney & Co. AG Benjamin Nyarko Ryan Sester Atlanta Karl F. Dasher Stanley J. Grabish, Focus Management Group Christopher Lamb Rez Mahboubi California – Northern Craig M. Hazel Casey Hopkins, Rubicon Mortgage Fund California – Southern Kristen […]