Coronavirus: ‘There’s going to be a generalized crushing of retailers in America’

“There is going to be a general crushing of retailers in America,” PJ Solomon founder and chairman Peter Solomon said on Yahoo Finance’s The Final Round. Solomon has spent decades facilitating deals and crafting restructurings in the retail space, so his call should be a major wakeup call to investors thinking about dipping their toes into the battered space.

“You will see a considerable number of bankruptcies because a number of retailers do have leverage. You cannot stop demand as we just have in the country and have these guys survive,” Solomon continued. “They pay rent. They pay interest. They pay their workers. They will have to stop paying their workers in a couple of weeks.”