Gov. Newsom expected to open low risk retail sectorMay 7, 2020 – Media Mention
Brian Davidoff, partner and chair of Greenberg Glusker's Bankruptcy, Reorganization & Capital Recovery practice, was asked for his insights on the current state of retail stores in California, including the recent bankruptcy filing by J.Crew.
The preppy retailer is among the first major clothing outlets to fail during a time when overall sales dropped suddenly due to the pandemic and subsequent shutdown orders, according to media reports.
“They will likely try to keep the brand alive by restructuring but whether that’s possible will be a function of what the marketplace looks like in the next three to six months,” said Brian Davidoff, partner and chair of the financial restructuring practice at Greenberg Glukser in Los Angeles and author of Reviving the Financially Distressed Business. “The current environment has highlighted the unstable position of many companies and J. Crew is one of them.”