Modell’s Hires Restructuring Officer
Berkeley Research Group has been hired to explore various alternatives for the 150-store chain, which include possibilities ranging from an out-of-court restructuring to a Chapter 11 filing, according to a story in the Wall Street Journal. Recent clients of Berkeley have included Shopko, Gymboree and Things Remember, all of which filed for bankruptcy protection. The story suggested that Modell’s, which expanded beyond its core New York base as far north as New England and South to the DC market but by far its greatest concentration is in its core market.
No doubt, there are several factors that are affecting Modell’s business ... Log in to view full article.