Neiman Marcus Offers Lessons for Retail Restructuring in the COVID-19 Era
By Denise Kaloudis, Managing Director, Stretto & Matthew Fagen, Partner, Kirkland & Ellis LLP
As the COVID-19 pandemic continues to wreak havoc on the economy, corporate restructuring has provided a strategic alternative for many retailers. Coming as it did amid an already fragile retail environment, the pandemic pushed more than three dozen retailers into Chapter 11 bankruptcy in 2020,...
We hope you enjoyed your free content!
To continue, please become a TMA member.
Access the Journal of Corporate Renewal and other content in the Learning Link.
Become part of a global organization of turnaround and restructuring professionals with 54 Chapters and more than 400 events each year.
Build your personal brand and professional network with opportunities to connect, speak, lead, and win awards.
Denise Kaloudis is a managing director with Stretto. She brings significant Chapter 11 expertise to her role based on her nearly 20 years combined experience as a former corporate restructuring attorney and turnaround planning expert. Kaloudis leverages her diverse skill set to outline multifaceted, nimble solutions tailored to individual client needs. She holds a bachelor’s degree in classics and anthropology from New York University and a law degree from Brooklyn Law School.
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.
