Creditors struggle to stop stressed firms borrowing more
Dropdowns, uptiers and double dips grow in number, and lenders can't stop them
In 2016, US clothing retailer J Crew was running into trouble. A move upmarket had alienated core customers. The halo effect of celebrity fans such as Michelle Obama, who once sung the brand’s praises on a talk show, had dimmed. J Crew was also buckling under a pile of debt and, with maturities looming, it was only a matter of time before the company faced default.
To dig itself out of this hole, J
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Investing
Unlocking global market access and redefining trading infrastructure
Designed to reimagine market connectivity, GAN offers strategic significance for financial institutions, regulators and exchanges
The curious case of the missing volatility risk premium
Volatility investors will need to work harder and smarter to capture value, says Capstone
Bond investors diverge on AI’s rates impact
While many agree the technology will drive growth, questions remain over the timing and inflationary impact
Investors ignore ESG scores when hedging climate risks – Engle
The ability to withstand uncertainty matters more than green credentials, says Nobel laureate
Franklin Templeton’s great DeFi migration
TradFi’s money and DeFi’s tech will inevitably combine, says asset manager’s futurist-in-residence
The AI explainability barrier is lowering
Improved and accessible tools can quickly make sense of complex models
Fixed income ecosystem
Manage risk, uncover opportunity and make informed decisions with ICE’s end-to-end fixed income solutions
BlackRock, BGI and the big quant pivot
How the world’s largest asset manager revived the fortunes of its struggling west coast unit
