Fmr. AAFA President: Retail bankruptcies have become fashionable

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Rick Helfenbein, fashion and retail industry independent consultant and former American Apparel and Footwear Association president and CEO talks a boom in retail bankruptcies this year,
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We're at a point now where the light at the end of the tunnel is so far away, if your business on the verge of bankruptcy there's no point in fighting it. Just let it happen. Sit back at home, ride out the Pandemic, then think about starting from scratch on a new business. Rent is due on the 30th but the knowledge of running a business is free to keep forever. So when you restart, your growth trajectory will not be hindered by a learning curve.

TheMjoDoj
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This could be an opportunity for some rebirth as the economy returns. A new golden age for retailer's who should be able to snap up property on the cheap if they need and also be able to grow without a lot of legacy costs. Also there will be an opportunity to hire top talent with people being available to help them succeed.

rd
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Bankruptcy will be utilized in rampant fashion to primarily get out of expensive leases. The businesses will continue mostly just fine....its the commerical r/e market that will be smashed in the 12 to 24 months ahead. Know what are in your REITs and the banks and insurance companies that have done all this non-recourse financing.

southernbanker
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Retail is toast lol no one is working. What do you expect?

brian
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Lol retail rush these guys are lying to themselves. Retail is dead it's all online its easier, cheaper, and better. The seller has one location and controllable customer service.

kennethb