210 Days

This is the current legal deadline for retailers in Chapter 11 to decide which stores to close and which to keep open. The limit was one of several changes made to the U.S. Bankruptcy code in 2005. According to a report on Bloomberg.com, Rep. Jerrold Nadler (D-NY) is introducing a plan to lift the limit, a move strongly opposed by the International Council of Shopping Centers. ICSC, a trade association in New York, says the limit gives landlords greater flexibility in filling vacant spaces. The National Retail Federation, however, favors repeal of the limit. The association says one in five American workers is employed in the retail industry—from the executive office to the sales floor—and it's critical to preserve those jobs. According to the Bloomberg report, those who favor reversing the limit say it prevents bankrupt retailers from restructuring because creditors mindful of t
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out