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July 09, 2020

David Ullmann speaks to The Globe and Mail about retailers seeking creditor protection to restructure their businesses

David Ullmann, a Partner in Blaneys Business Reorganization & Insolvency Practice, was quoted in The Globe and Mail in an article entitled "DavidsTea seeks creditor protection after COVID-19 fallout, looks to shutter some stores."

The article discusses how many Canadian retailers are now seeking creditor protection to restructure their businesses, and how this is contributing to a wave of vacant storefronts that will emerge from the COVID-19 pandemic. 

In the article, David Ullmann is quoted as saying, "Almost every law firm is talking to one or two clients that have multiple retail locations, that are considering their options right now."  

David also says, "What COVID gives the debtors is a universally understood narrative for why they need restructuring...the statutes are really good at helping companies navigate a crisis while preserving an otherwise viable business.”

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