Surviving Retail Distress: How Some Retailers Proved ‘Exceptions to the Rule’
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Surviving Retail Distress: How Some Retailers Proved ‘Exceptions to the Rule’
By Joshua A. Sussberg, Partner & Matthew Fagen, Associate, Kirkland & Ellis LLP
In the robust financing environment of 2017, commercial bankruptcies leveled off from credit-crisis highs. Through the first three quarters of 2017, commercial bankruptcies totaled 17,371, a significant decline from the 2009 peak year, when 45,510 commercial bankruptcies were filed in the first...
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Matthew Fagen is a restructuring partner in the New York office of Kirkland & Ellis LLP. He represents debtors and creditors in out-of-court restructurings and Chapter 11 cases. Among his recent cases, Fagen represented Neiman Marcus Group Ltd. LLC and affiliates in their prearranged Chapter 11, which resulted in restructuring $5.5 billion of funded indebtedness. Fagen holds a bachelor’s degree in applied economics and management from Cornell University and a law degree from New York University School of Law.
Joshua A. Sussberg is a restructuring partner in the New York office of Kirkland & Ellis LLP. He represents debtors, creditors, equity holders, sponsors, and investors in all aspects of restructuring distressed companies. He has been recognized as a leading lawyer in Chambers USA,America’s Leading Lawyers for Business each year since 2011. Some of Sussberg’s recent representative matters include Charming Charlie, Toys R Us Inc., The Gyrmboree Corporation, and BCBG Max Azria Global Holdings LLC.
