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Happy (?) New Year: 2009, Retailers and Bankruptcy

By Andrew M. Troop and Christopher R. Mirick

What should retailers expect for 2009? Little good, it appears. Reported opinions on retailers' prospects for this year range from difficult to disastrous, with very few predictions of any bright spots until 2010 or later. With dismal third-quarter results, and the year-end holiday shopping shaping up to be a mixed bag at best at press time, it seems likely that more companies are poised to follow Circuit City into Chapter 11 ' and maybe follow Linens 'N Things, Mervyns, Tweeter Electronics and others in liquidating. This article discusses some of the challenges that face retailers who may file Chapter 11 in the coming year, and offers some suggestions for increasing the odds of successfully reorganizing.

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