The simultaneous trends of consumers cutting back on spending and credit markets tightening are intensifying the financial distress for many retailers. While seven retail companies filed for bankruptcy throughout 2007, sixteen retailers have already filed for bankruptcy since the beginning of 2008, according to BankruptcyData.com. A panel of experts specializing in retail company bankruptcies discuss the current problems in this sector, as well as the financial future of the retail industry.
Laura Davis Jones is the managing partner of the Delaware office of Pachulski Stang Ziehl & Jones (Wilmington, Del.).
Scott Avila is a managing partner with Corporate Revitalization Partners, LLC (Los Angeles).
Howard Brod Brownstein is a principal of NachmanHaysBrownstein, Inc. (Philadelphia).
Prof. Jack Williams of Georgia State University is ABI’s Resident Scholar and a director BDO Seidman LLP.