$10 billion in sales up for grabs because of retail bankruptcies

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Jeff Gennette, chairman and chief executive officer of Macy’s Inc.

Mark Kauzlarich | Bloomberg via Getty Images

Macy’s chief sees $10 billion in sales up for grabs because of the flood of retail bankruptcies taking place and accelerated due to the coronavirus pandemic. 

“You see certain brands today that are either going to Chapter 13 or Chapter 11,” Chief Executive Jeff Gennette said Thursday during a virtual fireside chat with J.P. Morgan analyst Matt Boss. “Well we’ll look at that very carefully depending on the brand … and with the location.” 

“We see there’s about $10 billion worth of opportunity

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Exclusive: Wells Fargo shifts energy bankers to focus on bankruptcies

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(Reuters) – Wells Fargo & Co (WFC.N) has revived its special group for bad energy loans in recent weeks as the bank braces for more pain from the sharp downturn in oil prices, people familiar with the matter told Reuters.

FILE PHOTO: Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon

Sitting inside the credit-resolution group, where Wells Fargo handles struggling borrowers, the team includes many bankers who previously worked with the same oil and gas producers in its investment bank.

They work alongside bankruptcy specialists who have been reassigned to

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