The U.S. retail industry might be at the precipice of a massive wave of bankruptcies, according to multiple experts, as customers struggle with shrinking purchasing power amid rising inflation.
“We have potentially a perfect storm brewing,” Sally Henry, a professor of law at Texas Tech Law School and former partner at Skadden, Arps, Slate, Meagher & Flom LLP, said to CNBC. “I wouldn’t be surprised to see an uptick in retail bankruptcies.”
According to the outlet, Perry Mandarino, co-head of investment banking and head of corporate restructuring at B. Riley Securities, believes that the retail sector is in a “flux” and that the landscape within the next five years will be “much different” than it is today….