Archive | 2020

Neiman Marcus Hudson Yard's

Neiman Marcus Bankruptcy: More than Debt and Coronavirus to Blame

Recently, Neiman Marcus did the inevitable and filed for Chapter 11 bankruptcy in an effort to put $4 billion of its existing $5.1 billion debt behind it and restructure for the “new normal” after COVID-19. Under the new agreement, the Neiman Marcus Group has secured debtor-in-possession of $675 million financing to continue operating through the […]

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Wellbeing

Coronavirus Will Make Wellbeing the New Luxury Trend of the Future

The coronavirus shutdown has forced a reset to consumers’ purchasing behavior across the globe and at every income level. In a blink of the eye, consumer spending shifted from discretionary to necessity purchases and has remained that way throughout the months of the shutdowns. With luxury being the most discretionary of all consumer purchases, it […]

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Store is open

Ready, Set, Go: How 2 Main Street Retailers Are Preparing For Reopening After Coronavirus

It’s approaching two months since President Trump called on the country to practice social distancing to stop the spread of the coronavirus. That led almost immediately to a virtual shutdown of the nation’s Main Street retailers that were classified as non-essential and to restaurants, pubs, and food service establishments to all but carry-out service. In […]

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American Main Street

Main Street Coronavirus Survival Guide: How an Art Gallery, Jewelry Store, Home Furnishings Store, Gift Shop and Florist Will Survive Shutdowns

Small businesses’ opportunity to apply for their piece of the initial $379 billion CARES Act funding has come and gone. Overwhelmingly popular, the National Federation of independent Businesses reports that 70% of its 300,000 members applied for loans. While Congress moved quickly to add additional funds to the program for small businesses, tax attorney Logan […]

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Bankruptcy cliff's edge

Coronavirus Has Pushed A Growing List of Retailers to the Edge

With consumers’ heightened awareness of the danger of being in confined places with strangers, it is highly unlikely they will flock to stores and malls even once they reopen. Anxiety and a healthy paranoia are likely to linger – possibly for a long time. Ever since March 14, America has been effectively closed for business. […]

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