The second and third quarters of 2020 produced a bumper crop of retail store bankruptcies: the month of May alone saw filings by JCPenney; JCrew; and Neiman Marcus. This bumper crop is a disaster for some, but is an opportunity for others, including private equity firms and those institutional investors, either investing in or alongside those PE firms, with the time horizon necessary to wait out a continuing retrenchment.
The pandemic, of course, has sown this crop. It destroyed consumer spending. Such retail establishments as are open at all must abide by social distancing guidelines, which limits . . .
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