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ABL Advisor Exclusive: Distress in the brick and mortar sector led to a surge in retail bankruptcies in the first three months of 2017, with retailers accounting for 48% more filings than the same period last year. That’s according to a new report from BankrupctyData.com, which finds commercial filings increased 4% this quarter compared to Q4 2016, and are up 25% compared to Q1 2015.  By all accounts the retail sector has been driving the growth, with some of the largest brick and mortar stores Read Story

Filed Under: Bankruptcy
April 19, 2017 @ 08:00 AM

Payless ShoeSource is closing 388 underperforming stores in the United States, providing a rare opportunity for savvy shoppers to snap up footwear for the whole family at liquidation prices. A joint venture between Great American Group and Tiger Capital Group is conducting the store closing sales.Founded in Topeka in 1956, Payless ShoeSource will continue to operate approximately 1,500 stores in the United States. The retailer filed a voluntary petition for reorganization pursuant to Chapter 11 Read Story

Filed Under: Bankruptcy
April 14, 2017 @ 07:23 AM

Sterling National Bank, the principal subsidiary of Sterling Bancorp announced that Robert Mocerino has joined the bank as a Managing Director in the Specialty Finance Division. He will be reporting directly to Adam Dejak, SVP of Sales.Mocerino will assist Dejak with the management of specialty finance sales and service efforts, both deepening relationships with existing clients and developing new opportunities within payroll finance, factoring and asset based lending. Mocerino, a Sterling Read Story

April 13, 2017 @ 08:00 AM

A significant proportion of U.S. non-bank financial institutions (NBFIs) would be adversely affected by an accelerated and higher-than-anticipated increase in US interest rates, says Fitch Ratings. The impact on U.S. NBFIs of US interest rates reaching levels higher than current market consensus by 2020 is assessed in a special report published today. NBFI ratings incorporate Fitch's base case Fed Funds rate expectation of 2.5% by year-end 2018, though a recent special report from Fitch's Read Story

Filed Under: Economic Commentary
April 12, 2017 @ 07:25 AM

Fifth Third Bancorp recently announced that Fifth Third Securities Inc. has hired Michael Ho and Jim Parrino to co-head the Investment Banking group’s buy-side M&A advisory practice that offers clients support and assistance in defining and implementing their acquisition strategy. The buy-side service complements the bank’s continued commitment to its existing merger advisory services for the middle market. “The addition of a dedicated buy-side M&A advisory capability is core to Fifth Third’s Read Story

April 14, 2017 @ 07:50 AM


2017-04-26 09:43