Nordstrom Inc. shares fell the most in almost five months amid growing concerns about a deal to take the upscale department-store chain private, Bloomberg News reported yesterday. The Nordstrom family has struggled to amass the financing needed for the buyout. The Nordstrom family first announced it was considering a buyout in June. With the overall department-store industry slumping, a deal would give them a chance to work on a turnaround plan outside of public scrutiny. Private equity firm Leonard Green & Partners has held discussions about supplying about $1 billion in financing, but the total deal could require as much as $10 billion. Read more.
What does the future hold for retail bankruptcies? Be sure to attend ABI’s Bankruptcy 2017: Views from the Bench on October 17.
