Retail Roundup

Here are a few highlights from last week’s retail news.

Store closings are beginning at 59 Golfsmith locations nationwide, according to a Hilco press release.

The Business Insider and Retail Dive report that Sears suppliers are slowing shipments based on bankruptcy fears.

The Retail Dive reports that J.C. Penny hit a roadblock in its turnaround efforts, with total and same-store sales going negative.

Nasty Gal filed for Chapter 11 bankruptcy protection on November 9th.  The pleadings can be downloaded here.

Mette H. Kurth

 

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Bankruptcy Fee Schedule to Change on December 1st

The Judicial Conference of the United States approved adjustments to the miscellaneous fee schedule for bankruptcy courts. These changes become effective December 1, 2016. Click here for details on the fees affected.

Mette H. Kurth

 

Golfsmith Proposes $1 Million Employee Retention Program

Golfsmith has asked the Delaware Bankruptcy Court to approve a $1 million retention program for some of its key employees.  The retention program, it says, is needed to implement its recently approved bankruptcy sale and to complete the wind down of its remaining business. The plan, if approved, will provide retention bonuses so some 127 non-insider employees.

The motion [Docket #483] is available for download here.

 

Retail Worries Keeping You Up at Night? Read FTI’s US Online Retail Forecast.

Online Retail.jpgMy secret weapon for keeping up with the retail industry?  Some of the great reporting produced by my colleagues in the financial services industry!

The US Online Retail Forecast by FTI Consulting is a great resources for anyone wanting to read up on the ways that omni-channel retailers are adapting to online sales, retail winners and losers, and growth forecasts for 2017 online sales. Glean valuable retail insights. Find out what is keeping retailers up at night. And sleep a little  better.

Mette H. Kurth

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Got Interest? You May Not Be Able to Protect It from Preference Exposure Under Section 546(e)

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“Settlement payments,” e.g., the transfer of cash or securities to complete a securities transaction, are given safe harbor and protected from disgorgement as preferences under the Bankruptcy Code.