Thank you for sharing!

Your article was successfully shared with the contacts you provided.

This weekend’s Chapter 11 filing by CIT Group apparently has big ramifications for the retail industry, especially apparel. The firm works with 2,000 vendors that supply merchandise to 300,000 stores and finances about 60% of the apparel industry, according to the Associated Press.The good news, according to a National Retail Federation spokesperson, is that most retailers already have their holiday season inventory taken care of. But the bad news is that it could seriously impact stocking fashions for the spring season.The article also says that the industry has been monitoring CIT for a while, so many companies might have found alternative financing sources. It also points out, though, that small- and medium-sized chains could suffer the most because unlike the mega chains, it’s tougher for them to find credit.Is this something that these smaller retailers can overcome, or will it spell more doom for the industry?

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.