Federal Bar Association

Distressed to Well-Dressed: Bankruptcy and Restructuring in the Fashion Industry

Some would argue that what drives fashion is innovation and originality. The truth is it takes originality to determine whether to purchase distressed assets in the fashion industry and whether bankruptcy and restructurings that involve numerous parties, competing interests, and complex legal and financial matters is right for your client.

On February 9, 2018 Fashion Law Conference panelists Ira Abel (Law Office of Ira Abel) and Andrew Tumilowicz (Heritage Venue Advisors) will cover best practices and due diligence considerations in the fashion industry as well as examine the ins and outs of purchasing distressed assets. Sign up today at http://www.fedbar.org/Education/Calendar-CLE-events/2018-Fashion-Law-Seminar.aspx to enjoy reduced registration rates!

Speakers at the Federal Bar Association’s 5th Annual Fashion Law Conference have extensive experience in fashion, retail, tax law, corporate law, litigation, and business reorganization. Learn how companies are taking advantage of cheaper access to capital and pursuing refinancings, sales, and acquisitions.  At the panel on “Bankruptcy: Purchasing Distressed Assets in the Fashion Industry” uncover investment opportunities involving troubled assets and study how to handle financial and corporate restructurings and recapitalizations.

The time is ripe to examine this topic. It’s no secret that 2017 has been a particularly difficult year for the retail industry. Changing consumer preferences, the need for convenient shopping, and a surge in online spending explain why the retail sector has been hit so hard. Distressed fashion and retail companies will be forced to acquire new investments, sell assets, exit certain markets or liquidate.

Panelists will describe the many facets of due diligence, which often involves the review of bankruptcy petition and all public documents related to the bankruptcy filing. It also includes an evaluation of the debtor’s financial statements and review of media accounts of the bankruptcy.

FBA speakers work with corporate debtors, vendors, secured creditors, secured lenders, unsecured creditors, investors, and other parties-in-interest. As such, they will provide unique market analysis and legal insight across asset sectors.  Speakers will discuss the importance of advance planning that is required to successfully execute operational or financial restructurings of retail and fashion companies. Additionally, this panel will review the dispositions of non-core assets, including intellectual property and real estate, which can provide buying opportunities.

To succeed in distressed situations, out-of-court restructurings, and Chapter 11 bankruptcies, creditors need to know their rights, the risks, and how to obtain the best outcome in a potentially damaging situation.

Knowing policies in the bankruptcy world and restructuring business will bring added value to the representation of your clients.  Help your clients focus on the future by offering them a strategic approach to asset protection, real estate matters, liquidation, intellectual property law, loan workouts and forbearance agreements, and debt restructuring.

Join legal professionals and industry representatives in New York City on Friday, February 9 at the Fashion Law Conference. CLE credit will be available and attendees will benefit from networking opportunities throughout the day! Visit this link: http://www.fedbar.org/Education/Calendar-CLE-events/2018-Fashion-Law-Seminar.aspx.


Stacy Slotnick, Esq. holds a J.D., cum laude, from Touro Law Center and a B.A., summa cum laude, from the University of Massachusetts Amherst. She performs a broad range of duties as an entertainment lawyer, including drafting and negotiating contracts; addressing and litigating trademark, copyright, patent, and other IP issues; and directing the strategy and implementation of public relations, blogging, and social media campaigns.