COVID-19-Hit Retailers Face Tough Odds of Restructuring

May 1, 2020
Women’s Wear Daily

Stephen Selbst, co-chair of the Finance Litigation & Restructuring Department, was quoted in a piece in Women’s Wear Daily on the challenging environment for businesses looking to restructure amid the COVID-19 pandemic. “Most debtors at least enter Chapter 11 with the idea of selling their business, or being able to reorganize, where they would drop their unprofitable locations and reorganize around profitable locations,” Selbst said. “But often, pre-bankruptcy lenders will push for a sale of the company or a sale in pieces.”