Retail Bankruptcies: Key Issues for Debtors, Landlords and Vendors

Assumption and Rejection of Leases; Treatment of Gift Cards, Consignment Rights and Going out of Business Sales

Recording of a 90-minute CLE webinar with Q&A

Conducted on Thursday, June 15, 2017
Recorded event now available

This CLE webinar will provide bankruptcy and other counsel with the tools to navigate common issues that arise during retail bankruptcy cases. The panel will discuss assumption and rejection of leases, gift cards, vendor rights, going out of business sales, and other issues particular to retail bankruptcies.


National and regional retailers are filing for bankruptcy protection at the highest rate since the recent recession, with at least nine filings in the first quarter of 2017. According to Moody’s rating agency, another 19 store chains face possible bankruptcy by year end. This reflects a continuing decline in brick and mortar retail, due in part to a consumer shift to online shopping.

A troubled retailer must carefully consider the issues it may face should it determine to file for bankruptcy. For example, the retailer has just 210 days to decide which leases to accept or reject, and lenders often require retail debtors to propose a reorganization plan within 90 to 120 days after filing or face liquidation of the business. Moreover, the retailer must decide whether to continue to honor gift cards and other customer incentives post-petition. Consignment arrangements--where a vendor has delivered goods to a buyer/consignee but retains title to those goods pending sale to a third party--must also be considered. Additionally, vendors may assert that their claims are entitled to priority under section 503(b)(9) of the Bankruptcy Code.

Finally, the "going out of business" (GOB) sale is a frequently used mechanism in retail bankruptcies to maximize the value of inventory located at a retailer's unprofitable locations. GOB sales, however, are subject to various restrictions, both in and outside of bankruptcy, that are essential for a retailer to understand before utilizing this strategy.

Listen as our authoritative panel discusses the difficulty of navigating a retailer through a bankruptcy proceeding in the current retail climate.


  1. The recent surge in retail bankruptcies
  2. Assumption and rejection of Leases—treatment of rent pre- and post-petition
  3. Gift cards
  4. Vendors—consignment, stay relief and other issues
  5. Inventory—going out of business sales


The panel will review these and other key issues:

  • What is the procedure and timing for assuming or rejecting leases in bankruptcy?
  • What steps may vendors take to protect their rights to consigned goods?
  • What are some of the constraints on GOB sales, and how are they resolved in bankruptcy?


Felice R. Yudkin, Member
Cole Schotz, Hackensack, N.J.

Ms. Yudkin is a member in the firm’s Bankruptcy & Corporate Restructuring Department. She counsels Chapter 11 debtors, unsecured creditors’ committees, secured and unsecured creditors, commercial landlords and other parties-in-interest in complex Chapter 11 reorganizations, workouts, creditors’ rights, avoidance actions and other bankruptcy-related litigation.

George M. Cheever, Of Counsel
K&L Gates, Pittsburgh, Pa.

Mr. Cheever represents debtors, lenders, trade suppliers, landlords, and other creditors, purchasers of assets of bankrupt businesses, and creditor and equity security holder committees. He handles preference and avoidance litigation, the purchase and sale of bankruptcy claims, reclamation proceedings, automatic stay litigation, bankruptcy sales, contested plan confirmation hearings, and DIP financing.

Jacob S. Frumkin, Esq.
Cole Schotz, Hackensack, N.J.

Mr. Frumkin is part of his firm’s Bankruptcy & Corporate Restructuring team. He represents debtors, secured and unsecured creditors and other parties-in-interest in various aspects of bankruptcy proceedings and out-of-court restructurings. 


CLE On-Demand - Streaming Video

Includes recorded streaming video of full program plus PDF handouts.

On-demand is the only recorded format recognized for CLE credits in DE, IN, KS, LA, MS, NC, OH, OK, SC, TN, VA, WI.

AK, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN*, KS, KY, LA, ME, MN, MO, MT, NC, ND, NH**, NJ, NM, NV, NY, OH*, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

*Only available for attorneys admitted for more than two years. For OH CLE credits, only programs recorded within the current calendar year are eligible - contact the CLE department for verification.

**NH attendees must self-determine if a program is eligible for credit and self-report their attendance.

CLE On-Demand Video $297.00

How does this work?

Recorded Event

Includes full event recording plus handouts.

Strafford is an approved provider and self-study CLE credit is available in most states.

AK, AZ, CA, CO, CT, FL, GA, HI, IA, ID, IL, KY, ME, MN, MO, MT, ND, NJ, NM, NY, OR, PA, TN, TX, UT, VT, WA, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

Strafford will process CLE credit for one person on each recording.

Additional copies of a recording can be purchased at a discount. Please call Strafford Customer Service toll-free at 1-800-926-7926 ext 10 or email to place your order.

Recorded Webinar Download $297.00

How does this work?

Recorded Audio Download (MP3) $297.00

How does this work?


Strafford webinars offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program).  Please note that our webinars do not feature videos of the presenters.

Program Materials

Requires Adobe Reader 8 or later. Download Acrobat FREE.

Program Materials

Requires Adobe Reader 8 or later. Download Acrobat FREE.

or call 1-800-926-7926

CLE Credits

Many states grant CLE credits for on-demand streaming audio programs and recorded events. Our programs are pre-approved in many states. Refer to our state CLE map for state-specific information.

or call 1-800-926-7926

Customer Reviews

The speakers gave an excellent presentation, and their comments appeared to come from actual experience, with real-life illustrations, which added to the value of the seminar.

Cheryl D. Cook

O'Reilly Rancilio

I thought the program's content was excellent.

M. Sheinfeld

King & Spalding

I felt the program topic was well presented within the short time limit.

Kathy Pilkington


The webinar was very informative on very pertinent matters and had a good flow.

Noam Wiener

Allen & Overy

I thought that the program materials were simple to follow and the program was straight forward.

Scott Olson

Seyfarth Shaw

or call 1-800-926-7926

Bankruptcy Law Advisory Board

Mark N. Berman

Adjunct Professor

Northeastern University

Michael E. Foreman



Matthew Gensburg


Greenberg Traurig

Brian E. Greer



Douglas Lipke


Vedder Price

Victor Milione


Nixon Peabody

Steven B. Smith

Senior Consultant

JND Corporate Restructuring

Michael Solow


Kaye Scholer

Robert A. Weber


Skadden Arps Slate Meagher & Flom

or call 1-800-926-7926

Our Guarantee

Strafford webinars are backed by our 100% Unconditional Money-Back Guarantee: if you are not satisfied with any of our products, simply let us know and get a full refund. For more information regarding complaints and refunds, please contact us at 1-800-926-7926 ext 10. Complaints regarding this program can be submitted via the course evaluation found in the “Thank you” e-mail at the end of the course.