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The surge of big box store closures this year has left many storefronts empty across New England. With almost 3,200 chain closures nationwide since the start of the year, some landlords are seizing this opportunity to change...more
Express, Inc., the fashion mall retailer, filed for Chapter 11 bankruptcy protection in the District of Delaware Bankruptcy Court, docket #24-10831 (KBO) on April 22, 2024. This is the second retailer bankruptcy...more
AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more
The transition to online shopping, interest rate increases, labor costs, maturing debt and rising inflation have collectively taken a significant toll on the retail industry, contributing to store closures and a growing...more
Revlon Bankruptcy Complicated by Citi’s $900 Million Error | Financial Times - As Revlon prepares for restructuring negotiations following its bankruptcy filing last week, it faces complications with identifying its...more
Industry News - Archdiocese of Santa Fe's bankruptcy case plods along... The Purdue Bankruptcy Didn’t Work...more
The impact of COVID-19 restrictions and precautions, combined with trending consumer preferences to shop online, is fueling bankruptcy filings of well-known brick-and-mortar brands. As customers bid farewell to fond strip...more
On November 13th, the Boston Bar Association hosted Uncharted Territory: Challenges Facing Retail, Hospitality Sectors and their Landlords. The live webinar featured Richard Heller, Senior Vice President and General Counsel...more
The COVID-19 pandemic has forced big-name brands to pursue unique strategies to secure fiscal relief. Even prior to the pandemic’s outbreak, certain retailers experienced financial difficulties and filed for Chapter 11...more
Under the terms of a deal with the DOJ announced this week, JPMorgan will pay $920 million and sign on to a deferred prosecution agreement “to resolve charges that it had manipulated markets for U.S. government bonds and...more
Since the early days of the COVID-19 crisis in the U.S., it has been a recurring theme to turn on the news and see that yet another big-name retailer is rumored to be on the brink of filing, or has already filed, for...more
Blaming a “U.S. move to impose tariffs on French goods,” luxury brand conglomerate LMVH is pulling out of a proposed $16 billion deal to buy jeweler Tiffany & Co. Tiffany is now suing to enforce the ill-fated agreement....more
In this short, three-part video series, Greenberg Glusker Partners Andrew Apfelberg and Brian Davidoff discuss important financial considerations for health, beauty and wellness companies in the wake of a pandemic. Part three...more
The impact of the pandemic on the tax bases of local governments is slowly becoming clearer as the number of retailers filing for bankruptcy protection grows. ...more
Twitter will pay the Federal Trade Commission up to $250 million to “resolve new charges . . . that the social media giant breached a 2011 consent decree by using data provided for security purposes to target users with...more
In Washington - The divide between Democrats and Republicans continues as talks today have still resulted in no deal on a new coronavirus stimulus package. House Speaker Nancy Pelosi (D-CA), Senate Minority Leader Chuck...more
Previously we reported on debtors’ appeals to bankruptcy courts’ general equitable powers for assistance in weathering the COVID-19-induced economic storm. ...more
In Washington - House Republicans sent a letter to leadership asking that unemployment benefits be excluded from the next coronavirus relief package. Rep. James Comer (R-TN) said “Numerous employers in my home state of...more
Retailers faced a difficult financing market before COVID-19 appeared, but lockdowns have made the situation even tougher. High yield and leveraged loan values for retailers in North America and Western and Southern Europe...more
All the talk of when to reopen the economy is largely gotten in the way of a bigger (and thornier, if possible) question: how to do it. Despite the bold declarations from optimists and wishful thinkers that it’s as easy as a...more
House leaders and White House negotiators are closing in on a bipartisan deal “to replenish funds in the small-business loan program that ran out of money” last week. The $500 billion measure would also “provide money for...more
Seyfarth Synopsis: As OEMs confront the impact of the COVID-19 pandemic on an already changing automotive industry, one significant issue will be the inevitable financial challenges that many dealers will face. Financially...more
Almost a decade into the current bull market, many economic prognosticators are warning of a coming downturn. At the same time, political upheaval and uncertainty around the world is changing the landscape for cross-border...more
Amazon closed out the trading day yesterday as an official member of the $1 trillion club for the first time. Because Jeff really needed a win, folks. The company joins Microsoft, Alphabet, and Apple in that rarified...more
In a week that’s already seen plenty of C-suite shakeups, we’ve learned that Ginni Rometty is stepping down from her role as CEO at IBM. The company’s cloud computing chief, Arvind Krishna, will take over for her, though...more