October 2017
Feature Article
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Amazon, New Entrants Ramp Up Pressure on Traditional Supermarket Turnarounds, Restructurings
Amazon’s announced acquisition of Whole Foods for $13.7 billion1 is yet another sign of continuing competitive challenges faced by traditional supermarket chains. The Whole Foods acquisition brings Amazon a 468-store footprint, a fresh foods supply chain, new sourcing capabilities, and a strong private label brand with a consumer base of urban and higher disposable income […]
More from this Issue
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Walking Toward the Flames: The Path of Every Turnaround Professional
Chaos is described as a state of complete disorder and confusion. After 28 years in the turnaround and restructuring business, one develops a taste for it. I am reflecting on what it is that distinguishes the subject matter of the turnaround industry from the healthy business world. At the risk of oversimplifying, I would suggest […] -
Milestones
Douglas K. Brown, director of development for ASTI Environmental in Brighton, Michigan, recently received the Robert Sieghart Award for Enthusiasm for the Economic Development Profession during the Michigan Economic Developers Association Annual Conference. The award recognizes individuals who understand the importance of the profession and demonstrate a dedication to bringing others into the profession. T.J. […] -
Newcomers: October 2017
Arizona Matthew Gilbreath, Alliance Bank of Arizona Atlanta Elissa Barratt, U.S. Bankruptcy Court, Northern District of Georgia Matthew R. Dossey, Aurora Management Partners Inc. Travis R. Hunt, Citizens Commercial Banking John Karg, Hagen Realty Group Kenneth Saffold, Tennenbaum Capital Partners LLC California – Northern Peter M. Lechowick, Alvarez & Marsal North America LLC California – Southern Varouj Bakhshian, BMC Group Inc. […] -
Jane H. Downey: Getting on Board
Jane H. Downey is a partner with Moore Taylor in West Columbia, South Carolina. She is certified by the South Carolina Supreme Court as a specialist in bankruptcy and debtor/creditor law and also as a mediator and arbitrator. In addition, the American Board of Certification has certified her as a specialist in business bankruptcy. Downey […] -
In Rare Summary Judgment, Ontario Court Dismisses Case Seeking Billions in Damages
The Canadian judiciary has occasionally been criticized by the litigation bar for not taking advantage of the summary judgment procedures set out in the Court Rules. Indeed, it seems that a summary judgment is granted only in exceptional circumstances, and a judge may be more likely to “kick the can down the road” rather than […] -
Bankruptcy Remote Entities Face New Judicial Scrutiny
Lenders and borrowers alike benefit from reduced risk in loan transactions. One way lenders can reduce their risk is by lending to bankruptcy remote special purpose entities (SPEs), which are typically limited liability companies (LLCs) structured to limit their right to file bankruptcy. The limitation reduces the risk a lender faces when its borrower enters […] -
Averting the Pitfalls of Customer Claims, Noticing in Retail Bankruptcies
With the number of corporate bankruptcy filings in the retail industry nearly doubling in 2016 and continuing to climb in 2017,1 retailers and their legal and financial professionals are faced with innumerable challenges in navigating the corporate bankruptcy process successfully in a streamlined and cost-efficient manner. Aside from the substantial task of restructuring debt in […] -
50/50: Why So Many Troubled Retailers Liquidate
Bankruptcy filings by retailers in the first half of 2017 were on a record-setting pace, with 15 Chapter 11 filings in just the first six months of the year (Figure 1). This exceeds the number of retailers that have filed for bankruptcy in any full year since 2009, and there is a significant possibility the […] -
Using the ABC Model to Reinvigorate Retail Brands
It’s not news that traditional retail has been undergoing a sea change for quite some time, as evidenced by the growing number of big names that have been forced to downsize or close altogether in the past few years. Rue21 and Payless Shoe Store have each closed 400 stores so far this year. Gymboree announced […] -
Amazon, New Entrants Ramp Up Pressure on Traditional Supermarket Turnarounds, Restructurings
Amazon’s announced acquisition of Whole Foods for $13.7 billion1 is yet another sign of continuing competitive challenges faced by traditional supermarket chains. The Whole Foods acquisition brings Amazon a 468-store footprint, a fresh foods supply chain, new sourcing capabilities, and a strong private label brand with a consumer base of urban and higher disposable income […] -
There’s More to the ‘Retail Apocalypse’ than E-Commerce
George Bernard Shaw once said, “Progress is impossible without change, and those who cannot change their minds cannot change anything.” Those words have a special resonance for those of us in the turnaround community, especially those who focus on retail. We have witnessed record-shattering e-commerce growth and expansion of native e-commerce players into traditional brick […]