Audio – Bad Times? Good Times.
Jim Schaye comes across as a perfectly nice fellow, but if you happen to work for a retailer and you see him walking up and down your aisles, checking out your stuff … well, think about dusting off that resume.
Schaye is chief executive of Hudson Capital Partners, and he works with struggling or restructuring retailers if they have to start selling off stores and/or getting rid of inventory.
So, if retailer “A” is declaring bankruptcy or some other similar event and they start selling off their stuff, Schaye and his team will bid to take over all the assets and sell them. They’ll sell it all — merchandise, real estate, even the shelves that the stuff is on will be sold.
Suffice to say, Schaye and his team have been busy these days — and they expect more business very, very soon. In this clip, he talks about one potential issue that is starting to come up — a glut of certain types of real estate which has fallen out of favor among those companies that might be buyers.
Schaye was speaking at this year’s Reuters Consumer and Retail Summit, which runs through Thursday in New York and London.