Financial services company Hilco Global has issued a series of short- and mid-term strategic recommendations to assist lenders with current portfolio exposure in the retail market to take appropriate and informed action amid the current COVID-19 pandemic.
Titled simply, We are Here to Help, and co-authored by members of the Hilco Global Retail Leadership Team, the recommendations provide perspective on the current crisis by examining and comparing relevant aspects from both the 9/11 and 2008 financial crisis periods.
Noting that the fallout from the current pandemic during this period in terms of consumer behavior and recovery values is likely to be markedly different from either of those previous incidents, the guidance provided to lenders in these recommendations is broken into two distinct periods for 2020: March-April and May-October, with detailed actions outlined for each.
“While it goes without saying that this is an unprecedented period of uncertainty for businesses, financial institutions, and families around the world,” says Jeffery B. Hecktman, CEO of Hilco Global, “because our global team has worked through numerous dramatic economic fluctuations for almost four decades, we are well-equipped with data, facts, and deep experience to help lenders with retail exposure make the strategically sound decisions that will be needed during this time.”
To obtain a copy of the recommendations, contact Gary Epstein, CMO, Hilco Global, at 847-418-2712 or [email protected]