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Weiss in WWD on Bankruptcy during Pandemic
Mar 31, 2020Los Angeles Partner Sharon Weiss was quoted March 31 by WWD (Women's Wear Daily) concerning the difficulty of seeking bankruptcy protection as the economy flounders under the COVID-19 pandemic. Retailers usually seek bankruptcy protection to trigger an automatic stay of creditor enforcement actions. But bankruptcy relief also requires financial resources and a plan forward, which might be difficult to formulate during a global pandemic. “Everything in a restructuring case comes down to valuation,” said Weiss, who advises retail industry clients on bankruptcy issues. “The difficulty now is in being able to value, or estimate sources of revenue.”
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