Exiting BankruptcyAugust 30, 2020 – Media Mention
Brian Davidoff, chair of Greenberg Glusker's Bankruptcy, Reorganization & Capital Recovery practice, provides insights regarding retail bankruptcies in the article, "Exiting Bankruptcy," published by WWD on August 30, 2020.
Meanwhile, Penney’s has told the Texas bankruptcy court overseeing the case that it plans to execute a going-concern sale and has no intention to liquidate. But the retailer has moved past earlier deadlines in the case to propose a buyer group for its reorganized business, and has told the court it is still negotiating.
“What they look like coming out, I think at this point, is anybody’s guess,” said Brian Davidoff, who chairs the bankruptcy, reorganization and capital recovery practice at Greenberg Glusker Fields Claman & Machtinger LLP, who is not involved and spoke generally.
Ultimately, the story of retailers in bankruptcy is also one of the broader economy, and its recovery while the pandemic continues, attorneys said.
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