The Globe and Mail quotes Toronto Lawyer Stuart Brotman in an article about how retailers are fighting to outlast pandemic shutdowns.
“We haven’t yet seen the wave of filings that perhaps we thought we would see when we were all shut down in mid March, and in the weeks and months following that,” says Stuart Brotman, a partner and leader of the insolvency and restructuring group at Fasken Martineau DuMoulin LLP in Toronto.
“There are always some market factors that could encourage an increased number of insolvency filings by retailers in January and February. When you layer COVID on top of it, that may be magnified,” says Mr. Brotman. “And it may also have a trickle on effect – a further wave or ripple of filings later in the year – as the COVID constraints, on the one hand, are relieved, and as the liquidity supports start to go away.”
