Managing Directors, Matthew Bordwin and Rick Chance of KPMG Corporate Finance, were quoted in an article on The Wall Street Journal Online

January 14, 2009

Matthew Bordwin, managing director and group head of the Real Estate Services team, and Rick Chance, managing director and group head of the Special Situations Advisory Group with KPMG Corporate Finance LLC, were quoted in The Wall Street Journal Online article entitled, "More Retail Bankruptcies Likely, on January 14, 2009.

"I think the goal for most retailers will be to just make it through," says Bordwin. "It's survival of the fittest now, and the weaker retailers are going to be falling by the wayside."



Rick Chance says three factors are weighing on retailers and would surely drive more out of business: a continuing decline in consumer spending, pressure from suppliers who are tightening credit terms, and loan terms that are proving difficult to meet. "There is no doubt, given the performance of many retailers, that they are going to be breaking some of the minimum covenants they need to achieve to avoid a default with their lenders," said Chance.

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KPMG Corporate Finance provides a full suite of investment banking and advisory services to its domestic and international clients. Our professionals have the experience and depth of knowledge in global M&A and project finance to advise clients on mergers and acquisitions, sales and divestitures, buy-outs, financings, restructurings, fairness opinions, infrastructure project finance, and other advisory initiatives. In addition, we remain independent of financing sources, helping to ensure that our efforts are objective and aligned with the goals of KPMG’s firms’ clients.

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