On the heels of 5,864 retail store closures in 2018, at least 8,558 additional stores will close in 2019, a number that could climb as high as 12,000. While the media continues to describe this as a “retail apocalypse,” the fact remains that the U.S. still has much more retail square footage per...

When Kmart was first faced with bankruptcy in February 2002, its leadership was committed to addressing its operational challenges in an aggressive manner. The team enacted a “fast-track emergence” plan, with the goal of exiting bankruptcy by July 2003. Today’s retail restructuring environment...

Lenders often favor putting a restructuring process on the fast track. However, in situations involving real estate, it is important to balance the need for speed with the potential risk of signaling to buyers that the disposition is, in effect, a fire sale. Asset value depends on marketplace...

On Sunday, February 3, 2019, at 6:52 p.m., retailer FullBeauty Brands Holdings Corp. and nine of its affiliates filed for bankruptcy in the Southern District of New York. In re FullBeauty Brands Holdings Corp. , Case No. 19-22185 (RDD) (Bankr. S.D.N.Y.). Less than 24 hours later, FullBeauty...

There has been an explosion of bankruptcy filings that were arguably precipitated by leveraged buyouts and private-equity-backed transactions. Two recent examples are Toys R Us and Sears, both of which were saddled with billions of dollars in debt as a result of leveraged buyouts by private equity...

Last year was a turbulent one for the container shipping industry, but it might just have been a warmup for 2019. Political crosscurrents in the form of trade disputes resulting in new tariffs—and to a lesser extent, the U.K.’s impending exit from the European Union—could rock the industry and add...

The rise in popularity and convenience of online shopping ( i.e., the Amazon Effect) has triggered the bankruptcies of numerous retail consumer goods chains. Since 2015, there have been more than 50 major retail Chapter 11 filings. This trend is due to a number of factors, including (i) the...

As a condition precedent to confirming a Chapter 11 plan, Section 1129(a)(11) of the U.S. Bankruptcy Code requires a finding from the Bankruptcy Court that “confirmation of a plan is not likely to be followed by the liquidation, or the need for further financial reorganization, of the debtor or any...

I'm honored to have been selected by TMA’s Executive Committee as chair of the Editorial Advisory Board. Together with TMA’s Leadership, we’re underway with some innovative changes to the JCR that should provide a lot of value to our membership and continue to position the magazine as the premier...