The continuing trends of consumers cutting back on spending and credit markets tightening are intensifying the financial distress for many retailers. Eight retailers have already filed for bankruptcy this year following the 27 retailers that filed in 2008, the most since 32 retailers filed in 2001, according to BankruptcyData.com. A panel of experts specializing in retail company bankruptcies has reassembled to discuss the continued 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.