Retail Restructuring: Not Always Doom and Gloom

The retail industry has seen a significant transformation over the past decade. While some companies have been able to pivot and survive, others have struggled to adapt to the new landscape—resulting in a long line of insolvent and bankrupt retailers. However, Basler—with the help of its BTG GA partners—shows there can be life after liquidation.

The so-called retail apocalypse didn’t quite claim as many victims as originally thought. However, we’ve seen major brands such as Payless, Gymboree, Addition Elle (Reitmans), and Agnew Surpass—to name just a few—file for bankruptcy over the past few years. The retail sector is clearly still undergoing significant change, but the outcomes are not always doom and gloom.

Allan Nackan
Senior Managing Director

Allan is a Senior Managing Director at B. Riley Farber and co-leads the firm’s Restructuring practice. His practice focuses on corporate insolvency and restructuring, financial advisory services, cross-border restructuring, fraud investigations, and forensic accounting.

When the German based high-end women’s fashion chain, Basler, needed to restructure—firms from the BTG Global Advisory (BTG GA) played a pivotal role in the global restructuring and liquidation. At its peak, Basler had over 50 own-brand stores and more than 1,100 people employed worldwide—with stores in Germany, France, Romania, the UK, the US, and Australia.

PLUTA, a member of BTG GA, acted as restructuring adviser in Germany and enlisted the help of other BTG GA firms in several countries, including: Zalis in France—who largely handled Basler’s restructuring there—BTG Advisory in the UK who supported Basler’s management, and GlassRatner led an out-of-court restructuring process in the USA.

This case is a great example of how the BTG Global Advisory firms can mobilize, seamlessly collaborate and deliver cross-border solutions for clients. More importantly, it illustrates there is life after liquidation.

Learn more about the cross-border engagement.

As the Canadian member firm of BTG GA, one of the world’s largest specialist financial advisory alliances, B. Riley Farber is well-positioned to offer cross-border solutions. Contact Allan Nackan to discuss how we can help deliver effective global restructuring solutions.

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