Analysis - Strategy - Results

News Releases

The Administrative Office of the United States Courts (AOC) has issued several helpful videos about the basics of bankruptcy. To watch, please visit their website at: Here

Employees of DelCotto Law Group PLLC will be participating in the 2013 Central Kentucky Heart Walk to benefit the American Heart Association on Saturday, May 18, 2013. The 3 mile walk will be held at Keeneland Race Track. For more information or to join the DLG Team, please visit our team page at: Here

Associate Kent Barber was recently elected President of the Bankruptcy Section of the Fayette County Bar Association (FCBA). For more information about the FCBA, please visit their website: Here

Laura Day DelCotto spoke to the Glasgow Rotary Club on January 10, 2013. Information about her presentation can be found in the following Glasgow Daily Times article. [Read Article]

Attorneys Michael Gartland and Wes Harned co-wrote an article entitled Overview of §3545: The Family Farmer Bankruptcy Tax Clarification Act of 2012 which was recently published in the American Bankruptcy Institutes’ 2012 Legislation Committee Newsletter. [[Read Article]]

Attorney Laura Day DelCotto was named the Greater Lexington Paralegal Association’s 2012 Most Supportive Attorney. For more information, visit the GLPA’s website or contact Laura Day.

PAST NEWS RELEASES CLICK HERE TO VIEW

The Retail Industry

If anything is certain in the recent economic environment, it is that the retail industry feels the pain of a slow economy as much as, if not more than, any industry.  High unemployment and low consumer confidence mean low revenues and tighter margins for retailers. Consumers are not willing to spend as freely as before. More expensive items are experiencing a longer shelf life and consumers are purchasing in smaller quantities. Retail outlets are being forced to increase budgets on advertisements while offering more sales and specials. This combination leads to strained budgets, decreased profit margins and increased stress on an already suffering business. When a retailer comes to the brink of insolvency and begins to consider seeking relief under the Bankruptcy Code, there are several issues that must be taken into consideration.

Retailers should consider that an attempt to reorganize debts under Chapter 11 of the Bankruptcy Code requires capital to continue business operations in the early stages of bankruptcy.  Being able to plan a strategic time to file bankruptcy can be crucial to start a retailer’s bankruptcy case off on the right foot and raise the probability of a successful reorganization. Common administrative issues that arise when a bankruptcy petition has been filed including keeping the lights and other utilities turned on, dealing with unexpired leases, appeasing secured lenders up front in order to assure availability of inventory, customer loyalty and brand recognition during the bankruptcy proceedings.

After reviewing all options for retail owners and deciding on the best option DelCotto Law Group PLLC are willing to help and move forward with whatever proceedings are deemed necessary. Chapter 11 bankruptcy can be a critical tool to use in order to restructure debts or provide a sale of assets or wind down of operations. Our attorneys have extensive experience in the retail industry and can be of service in addressing bankruptcy issues such as:

  • Lease Assumption, Rejection or Assignment
  • True Lease/Finance Lease Analysis
  • Critical Vendors
  • Administrative Claims including 503(b)(9) claims
  • Franchise or trademark Agreements
  • 363 Sales and GOB sales
  • Timing of filing/cyclical nature of business
  • Gift card issues
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PROVIDING LEGAL SERVICES FOR BUSINESSES AND INDIVIDUALS ALL ACROSS THE BLUEGRASS. Bankruptcy and debt relief services provided throughout Kentucky, including Bourbon, Boyle, Clark, Fayette, Franklin, Garrard, Harrison, Jessamine, Laurel, Lincoln, Madison, McCreary, Mercer, Pulaski, Rockcastle, Scott, Shelby, Wayne Whitley and Woodford Counties, as well as Cynthiana, Danville, Frankfort, Georgetown, Harrodsburg, Lancaster, Lawrenceburg, London, Monticello, Mount Vernon, Nicholasville, Paris, Richmond, Shelbyville, Somerset, Stanford, Versailles, Williamsburg, Winchester and Whitley City.
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