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Matt Katz, Managing Partner and Head of Retail & Consumer Packaged Goods spoke with Market Watch about the record number of retail bankruptcies this year. Matt noted the severity of the filings we have seen this year stating, “Retail is a business of seasonality, depending on categories and time of year, you see growth or margin deterioration, bankruptcy doesn’t have a season.”
He goes on to explain what will need to happen from a consumer’s perspective in order for the industry to recover, “People are going to have to replenish savings and nest eggs. They’ll probably owe money to landlords and other obligations. There’s some catch-up they’re going to have to do to put their finances back in place. That’ll take some time.”
Read the full article here.
Matt Katz serves as a Managing Partner and heads the Retail & Consumer Packaged Goods and Private Equity practices at SSA & Company