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In the first column in this series on CIT’s bankruptcy and the retail supply chain, Kurt Cavano, Chairman and CEO of TradeCard, provided background perspective on CIT’s historic role and fit within the industry. In this post, we’ll continue the analysis, sharing some additional thoughts from Kurt as well as those of another expert who has always been my go-to-source in the retail supply chain area.
But before we get to another opinion, let’s begin by breathing a sigh of retail trade relief. And that’s because had CIT originally filed for bankruptcy earlier this year — around the time the US government bailed them out — it could have had a disastrous effect on the retail supply chain for the holiday season. But fortunately, the original delay — which we can thank the Feds for — allowed “both buyers and suppliers in the retail sector to get their shipments in and get paid,” Kurt notes, in time for the holiday season.
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- CIT woes worry U.S. retailers (cbc.ca)
- Retailers face repeat of 2008 holiday shopping season (financialpost.com)
- Retail Faces Uncertainty as CIT Enters Bankruptcy (abcnews.go.com)
- `Fragile’ Christmas in store as dollar, inventories wobble (thestar.com)
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