News Releases

Rising Retail Bankruptcies Pose Far-Reaching Industry Ramifications

Media Alert
NEW YORK, April 27, 2017 - Recent news reports have highlighted the number of major retailers who are contemplating the potential of seeking relief under the Bankruptcy Code. Financial restructuring experts at Baker Botts are available to explain why the restructuring of distressed retailers could lead to significant store closings. 

“Brick and mortar retailers are continuing to face severe financial distress as more and more consumers are turning to the internet for their shopping needs,” said John Bae, financial restructuring partner in New York. “Many retailers have already sought relief under the Bankruptcy Code, and many more are expected to join them in bankruptcy. The ramifications of this development will be far-reaching.”

Baker Botts financial restructuring partners can discuss the impacts of the retail bankruptcy developments, including:  

  • Financial distress to commercial landlords and shopping mall owners; 
  • Impact on lenders to commercial property owners; 
  • Impact on REITs and real estate investment funds that own portfolios of commercial real estate assets; 
  • Opportunities for special opportunity fund investors; and 
  • Cap on landlord lease claims under the Bankruptcy Code.

Mr. Bae has extensive transactional and litigation experience and has represented clients in large, complex and litigious bankruptcies, as well as strategic transactions utilizing the bankruptcy process to achieve a specified goal.

Mr. Grillo advises banks, hedge funds, sponsors and other financial institutions regarding insolvency and restructuring matters in complex financings and securitizations. He focuses on debt restructurings and the reorganization and liquidation of financially distressed businesses under Chapter 11 of the Bankruptcy Code. 


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About Baker Botts LLP
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy and technology sectors. Throughout our 177-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

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