Press Mention

National Stores Case Shines Spotlight on Bailment

The Deal
January 28, 2019

"The interplay of vendors and bankrupt retailers isn't always straightforward. While vendors are often supportive of retailers that hit Chapter 11, they also don't want to continue to ship goods and end up with partial payment for the merchandise. Over 200 retailers filed for bankruptcy in 2018, and many others, such as Stein Mart, 99 Cents Only Stores, Neiman Marcus Group and J.C. Penney Co., have been restructuring out of court seeking to avoid a Chapter 11 filing. But what can these retailers do for their vendors to keep them shipping goods if the companies are forced to file for Chapter 11? Once a retailer enters bankruptcy, it needs to find ways to reassure vendors that shipping products is not a lost cause and convince them they will get paid for their goods as the company reorganizes."

Read the article

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.