In the era of the retail apocalypse — where name-brand retailers are closing all or large portions of their stores — the successful going-concern sale of mall-based retailer Things Remembered stands as a testament to the benefits of the Chapter 11 process and the commercial and practical approach that must be utilized in large retail Chapter 11 cases.
Something to Remember: The Flexibility of Chapter 11 in Retail Situations
In the face of increasing pressure from online retailers, and declining foot-traffic in malls and other brick-and-mortar locations, distressed retailers like Things Remembered need to act expeditiously to execute going-concern transactions if they are going to survive the market disruption.
By
Christopher T. Greco, Spencer A. Winters and Derek I. Hunter
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