Tuesday, April 14, 2020

COVID-19 will both complicate and accelerate retail bankruptcies

Retail Dive
Along with everything else disrupted by the COVID-19 pandemic, add retail bankruptcy to the list.

Modell's, which filed in early March, has put its Chapter 11 case on ice for now. Pier 1 suspended a bankruptcy auction for its assets and was granted permission to stop paying rent and vendors as it closes its store fleet.

The calculus of filing for bankruptcy has been scrambled in both the near and long term. But if nothing else is certain at the moment, at least one thing is: More retail bankruptcies are coming. . . . more