Recreational cannabis use became legal in Canada on October 17, 2018. Canada is now the second country in the world—and the first G-7 nation—to authorize a national cannabis market. 1 The passage of Bill C-45, otherwise known as the Cannabis Act, marks a historical moment for advocates of cannabis...
Welcome to our podcast focused on current issues impacting the healthcare industry. I’m Jeanine Krattiger, director of marketing with Carl Marks Advisors, and with me are two members of the leadership team of the firm’s heathcare group, Marc Pfefferle, partner, and Jonathan Killion, managing...
For much of the 20th century, Henri Bendel was one of the most innovative retailers in the world. It was the first retailer to spot Upper Fifth Avenue’s potential for affluent foot traffic, the first to offer an annual sale, the first to offer in-store makeovers, and the first to have its own...
It cannot really be debated that the Four Horsemen of the “retail apocalypse” have arrived and are comfortably hanging around the nation’s shopping districts. Dozens of retailers filed for bankruptcy in recent memory, including Bon-Ton, Claire’s, Gibson Brands, and Brookstone, with more on the...
A majority of today’s large Chapter 11 cases are structured as quick Section 363 sales of all the debtor’s assets followed by confirmation of a plan of liquidation, dismissal of the case, or a conversion to a Chapter 7. The purchaser in the sale is often one of the debtor’s prepetition secured or...
To minimize their financing costs, retail companies commonly provide ABL lenders and term loan lenders with senior liens over separate silos of collateral. Typically, the ABL lenders have priority liens over the company’s borrowing base assets—most commonly current assets, such as receivables and...
The U.S. retail industry is tattered and torn, and Chapter 11 continues to be an inevitable ending for many distressed retailers struggling in the post-Amazon world. Indeed, despite the recent uptick in the U.S. economy, retailer woes have continued unabated, with sales for many continuing to...
It should come as no surprise to turnaround professionals or even casual readers that the retail industry is in a state of transition. However, contrary to the popular refrain, this transition does not signal that brick-and-mortar retail is dead, nor is it in the midst of an apocalypse. The retail...
Currently, 30 states and the District of Columbia have adopted some form of cannabis legalization, producing and estimated $9 billion in sales in 2017, making it one of the fastest growing industries in the U.S. This accelerated growth will find many new entrants...
Last year more than 20 national retail chains filed for bankruptcy protection, continuing a trend that many observers attribute to the rise of e-commerce and the unprecedented growth of Amazon. While the impact of those forces certainly cannot be denied, the history of retail is also one marked by...
