• Welcome to OGBoards 10.0, keep in mind that we will be making LOTS of changes to smooth out the experience here and make it as close as possible functionally to the old software, but feel free to drop suggestions or requests in the Tech Support subforum!

COVID-19 bankruptcies

A

AMCDeac

Richard Joyce
Joined
Mar 27, 2011
Messages
942
Reaction score
68
Location
Charlotte
CFRA IHOP - May 6, chapter 11 reorganization.

Thinking we are looking at an economic shit show when it is tough to sell pancakes and waffles.

What else are you seeing on the bankruptcy dockets?

New law grads - consider bankruptcy as a practice area, at least to get your foot in the door somewhere.
 
Last edited:
Shitload of retail that was already obviously teetering. J Crew probably the most notable. But have to think that this will be the end of most generic large format retail.
 
COVID did not kill J Crew. Shitty business decisions did.
 
DeaconCav06 said:
COVID did not kill J Crew. Shitty business decisions did.
Click to expand...

Oh I totally agree. I mean these companies have been failing for years or decades even. But this will be the final bullet for a lot of mediocre retailers that have been slowly sliding into irrelevance. We live by a mall that has been bought out by a big developer and have watched as stores just close one by one for the last several years.
 
Re: IHOP - I read that people aren’t going out for breakfast. They are doing takeout for lunch and dinner, but not breakfast.
 
Grabs Turds Bare said:
Carter Brothers BBQ, right?
Click to expand...

They just closed. The N Main location closed because the owner didn’t want to undergo remodeling. I think with COVID, he just decided he wasn’t in it anymore.
 
bym051d said:
Re: IHOP - I read that people aren’t going out for breakfast. They are doing takeout for lunch and dinner, but not breakfast.
Click to expand...

People are probably sleeping in more and more likely to skip breakfast.
 
I’m swamped with bankruptcy tax issues right now. And yes tax is a HUGE issue.
 
Was sad to see Futo Buta closing here. Had been meaning to try them and they had only been open a few months.
 
JuiceCrewAllStar said:
what's the two sentence version of their bad business history?
Click to expand...

They made a number of strategic missteps and alienated a large part of their customer base.

The company imagined itself as an ultra luxury brand and had huge fails in its marketing.
 
Retail malls in general have been teetering on bankruptcy for some time. CBL is a mall REIT that owns something like half the retail mall space in the country and they are currently looking at bankruptcy.

Case in point is Hanes mall. They've lost 2 of the big box tenants - Sears and Macy's, and when the anchor (JC Penney) goes belly up the whole mall will be done. I imagine we will see wholesale mall closures around the country, and some of them redeveloped into mixed use residential/retail/office space.
 
Much like this is cleaning out olds and losers of the human population, it's doing the same to businesses. Net gain in the end all around
 
Toogs said:
Much like this is cleaning out olds and losers of the human population, it's doing the same to businesses. Net gain in the end all around
Click to expand...

May seem that way until Amazon owns everything.




But seriously. I don't see how legitimately small businesses (i.e. not the Lakers) make it back from this. It's going to come down to which business owners are wealthy enough to weather the storm and who gets bailed out.
 
Last edited:
Liquid Karma said:
Retail malls in general have been teetering on bankruptcy for some time. CBL is a mall REIT that owns something like half the retail mall space in the country and they are currently looking at bankruptcy.

Case in point is Hanes mall. They've lost 2 of the big box tenants - Sears and Macy's, and when the anchor (JC Penney) goes belly up the whole mall will be done. I imagine we will see wholesale mall closures around the country, and some of them redeveloped into mixed use residential/retail/office space.
Click to expand...

There is at least one big investor I was reading about recently that has made a fortune over the last few years shorting the mall sector. They have to be jizzing money at this point.

I looked it up and the mall by my house that they are going to redevelop is 55 acres! Just a gigantic misuse of space and literally a 2 mile straight shot to the center of downtown Durham so hopefully they do something cool with it. Ironically its primary use right now is parking for Amazon delivery vehicles.
 
yeah, malls definitely are going to take a beating. I'm in the process of training our entire M&A team to work on bankruptcies and debt workouts. So far we're seeing retail, energy, and restaurants, but we know everyone else is close behind.
 
WRS said:
There is at least one big investor I was reading about recently that has made a fortune over the last few years shorting the mall sector. They have to be jizzing money at this point.

I looked it up and the mall by my house that they are going to redevelop is 55 acres! Just a gigantic misuse of space and literally a 2 mile straight shot to the center of downtown Durham so hopefully they do something cool with it. Ironically its primary use right now is parking for Amazon delivery vehicles.
Click to expand...

Northgate Mall? Used to go there all the time back in the carefree early 90s and early 00s.
 
from an urban planning perspective, these giant malls and all the suburban office parks that have already become albatrosses for many municipalities are gonna become a national nightmare
 
You must log in or register to reply here.
Back
Top