Morgan Lewis partner Kurt Mayr spoke to Law360 about trends in the restructuring space after restructuring professionals say financial hardship for businesses as a result of the coronavirus (COVID-19) pandemic will continue into 2021.
The article addresses the effect of pandemic closures on real estate, as businesses close and leave premises empty. Kurt told Law360 that this trend will continue and likely move at a swifter pace this year. “Aside from retail space remaining vacant or difficult to fill, office space may likewise see occupants fleeing leases they find unnecessary after a shift to remote work models,” he said.
Kurt also discussed distressed investing in the coming year, noting, “There is a lot of opportunity...[Investors] really haven't deployed a lot of capital into the first round of the pandemic.”