Our Chapter 11 Recap is an unparalleled single source for trends in retail filings, and the commentary from our industry experts paints a picture of what to expect for the remainder of 2020, during a time when credit executives need every tool at their disposal.
GREAT NECK, N.Y. (PRWEB) July 14, 2020
Industry-leading retail consulting firm Information Clearinghouse, Inc. (ICI), through its F&D Reports and Creditntell divisions, has announced the release of its report, Chapter 11 Recap: The First Half of 2020. The report, released twice annually in January and July, documents 16 large retail company filings, including supermarket operators Fairway Group Holdings and Lucky’s Market, department store retailers JCPenney and Neiman Marcus, and home furnishings retailers Pier 1 Imports and Tuesday Morning Corporation. The Chapter 11 Recap provides a look back at the previous six months of bankruptcy activity from all 94 U.S. jurisdictions, presenting the data by month, industry, and state of primary operation.
The significant impact of COVID-19 and its requisite store closures / stay-at-home orders has pushed a number of high-profile retailers into Bankruptcy Court. Retail Chapter 11 filings during the first half of 2020 were more than double the rate of the first half of 2019. Unfortunately, in the back half of the year, this trend is expected to accelerate; in the first two weeks of July alone, NPC International (the largest U.S. franchisee of the Pizza Hut and Wendy’s banners), Lucky Brand Dungarees, Brooks Brothers, Sur La Table, and New York & Co. owner RTW Retailwinds have all filed for Chapter 11 protection.
Commenting on the updated Chapter 11 Recap, ICI CEO Lawrence Sarf stated, "Early on in the shutdown, we saw most retailers draw down their credit facilities to provide the maximum flexibility to manage the crisis. That money is running out, and consumers have not rushed back into their pre-COVID shopping behaviors, pushing a number of companies that were already struggling prior to the pandemic to initiate the bankruptcy process. Our Chapter 11 Recap is an unparalleled single source for trends in retail filings, and the commentary from our industry experts paints a picture of what to expect for the remainder of 2020, during a time when credit executives need every tool at their disposal.”
Please click here to request a copy of the report.
Information Clearinghouse, Inc. (publisher of F&D Reports & Creditntell) is a leading credit consulting firm specializing in the analysis of public and private companies in numerous retail segments. The focus of its analysis is to deliver the key intelligence today’s busy credit executive needs to make a highly informed decision without sifting through pages of non-essential data. To learn more, visit our websites at http://www.fdreports.com and http://www.creditntell.com.