On Friday, May 15, Larry Katz was interviewed by Marielle Segarra of American Public Media to discuss the impact of dismal April sales figures on struggling retailers.
The pandemic has left many retailers considering Chapter 11, a legal process by which companies attempt restructure to stay afloat. While some companies file bankruptcy to liquidate and close their doors, the goal of most Chapter 11 cases, according to Katz, is to emerge “a leaner and meaner company than when you went in.” Of course, upon emerging from bankruptcy, we still need “to have a product that people are interested in purchasing.”
Elements of that discussion were featured on NPR stations across the country and in Ms. Segarra’s article on Marketplace.org.
Kristen M. Chatterton