This is a good time for bank risk managers and bank regulatory examiners to evaluate the effects of a deepening retail crisis on the financial services sector.
Last year, with online shopping growing ever more dominant, 4,000 stores closed, and this year is looking far worse. Some sell-side analysts predict that the number of closings could double. Just in the first quarter of 2017, 3,000 stores have closed. S&P Global Ratings expects defaults by retailers on their bonds this year to surpass those in 2008-2009, when the U.S. was in the depths of the financial crisis…Read More