COVID-19 will both complicate and accelerate retail bankruptciesApril 13, 2020 – Media Mention
Bankruptcy & Insolvency Partner Brian Davidoff spoke to Retail Dive on how COVID-19 will complicate and accelerate retail bankruptcies.
The uncertainty facing the entire industry may be one of the largest complicating factors for retail bankruptcies. "When you're working with a company that is trying to restructure its balance sheet, its operations and reorganize them, you are usually working toward a definable objective," Brian Davidoff, chair of Greenberg Glusker's bankruptcy practice, said in an interview. "There is an objective in sight, a timeline in sight, a marketplace in sight. The biggest problem right now is none of those provide any visibility."
He added, "I do believe that this current environment is going to have much longer term effects on industry in general and retail in particular, and it is going to push many companies that were on the borderline over the edge."