4.16.12

Haggar Announces New Leadership

 

2.28.12

Final Phase of Continental GOB Sale

 

11.29,11

Continental Jewelry Closing in Tampa

 

11.15.11

Unico Designs

the look to hold Two-Store retirement

 

11.11.10

Jewelers Could Have

A Happier Holiday This Year

 

8.23.10

Maharaja's Loses Beachfront Store

as Oil Wary Tourists Avoid the Gulf

 

7.28.10

Buxbaum Group Relocates

 

6.29.10

Michael Lebowitz Joins

Buxbaum Jewelry Advisors

 

6.21.10

Lisa Ketrick Joins

Buxbaum Jewelry Advisors

 

5.14.10

Gold-Buying Helps Jewelers

Weather Great Recession

 

3.29.10

Buxbaum Jewelry Advisors

Helps Hoff Family Jewelers

 

1.12.10

Rapid Sale of $1.5 M Inventory Shows  Demand for Value Jewelry

 

6.18.09

Highly successful sale for

Henricks Jewelers Bonita Springs

 

5.06.09

M.J. Christensen Plans To

Reopen Under New Name

 

5.04.09

Filene's Basement Files

For Chapter 11

 

4.29.09

M.J. Christensen

Store Closing

 

4.23.09

Reviewing All 'Available

Business Options’ for Filene's

 

3.24.09

Jewelry Superstore Offers

Huge Discounts In

Going Out Of Business Sale

 

11.26.08

Retailers to Shout 'Value!' from the Rooftops This Holiday Season

 

9.24.08

Buxbaum Forms Wholesale, Retail

Jewelry Liquidation Venture

 

7.21.08

Toys, Games, and Collectibles

Offered at Huge Discounts

 

7.17.08

Dismal Consumer Confidence

Undermines 'Immunity'

of Luxury Retail

 

7.17.08

Gigantic Inventory Clearance Sale

Makes Dream Kitchens A Reality

 

3.12.08

Western Wear Chains Offering Huge Savings at Special Inventory Sale

 

11.05.07

Shoppers Can Expect Quick Holiday  Bargains As Worried Retailers Cut Prices

 

10.24.07

Rosslyn Hotel Renovation

into Affordable and

Market-Rate Housing

 

9.10.07

Retailers's Shift Away

from Purchasing Contracts

 

7.09.07

Buxbaum Group Relocates

to Agoura Hills, CA

 

5.03.07

Downturn Means Uncertainty For

New Breed of Asset-Based Lenders

 

2.22.07

Collectors Art

Going-Out-of-Business Sale

 

11.02.06

Buxbaum Group Announces Senior Executive Changes

 

10.23.06

What Will the Holiday Season Bring

 

10.18.06

Marcos and York Join Buxbaum Group

Asset Appraisal Group

 

4.12.06

Acquisition of Honduran Factory to

Help Indosheen Regain Prominence

 

1.03.06

Buxbaum Group Readies

Indosheen for More Growth

 

11.09.05

 Confirmation Hearing on

Waterman Reorganization

 

10.25.05

Buxbaum Group

Gets Gramicci

Back On Track

 

10.20.05

Buxbaum Group the Key to

Sale of Rampage

 

2.17.04
Buxbaum Group Inventory
Appraisals Hit $5.0 Bil.
in 2003

 

1.7.04
David Buxbaum Named to Local
Airport and Hospital Boards

 

12.24.03

Right Start Stores Now in
Liquidation Mode, As Court
Rejects Offer On Business


12.9.03
Buxbaum Group Inventory
Appraisals Exceed $3.5 Bil.
on Target to Reach $5.0 Bil.
for 2003

 

12.4.03
Inventory Clearance Sales
Begin in All 142 FAO Schwarz,
Zany Brainy, and the
Right Start Stores

 

3.27.03
Buxbaum Group Appraised
Approx. $4.0 Billion
in Inventories in 2002

 

2.28.03
Court Approves GOB Sales
For Troutman's Emporium;
Buxbaum Group, Others
to Run Liquidation

 

DOWNTURN WOULD MEAN UNCERTAINTY FOR
NEW BREED OF ASSET-BASED LENDERS - Buxbaum Group’s Stevan Buxbaum outlines risks in ABF Journal article

CALABASAS, Calif. (5/3/07) – Massive shifts in the asset-based lending industry make it far from clear how lenders will fare during the next economic downturn, Buxbaum Group executive vice president Stevan Buxbaum writes in the May 2007 issue of ABF Journal, a monthly trade journal for commercial finance professionals.

In his article, part of a cover package titled “It’s a Jungle Out There! Distressed Debt Market Offers Rare and Risky Rewards,” Buxbaum notes that the industry has undergone sweeping changes in recent years, with old-line lenders giving way to newer, more flexible ones. A wave of consolidation saw many better performing independent finance companies acquired by banks, which were in turn rolled up into bigger banks.

“While the number of lenders was reduced, both the demand for loans and the supply of capital increased. Suddenly, there was an explosion of new finance companies coming out of hedge funds,” reports Buxbaum, who has directed consumer product appraisals and liquidations for asset-based lenders for more than 20 years

In their zeal to get new business, many lenders—including traditional ones—have liberalized lending standards, Buxbaum says. “Where loans once were peppered with covenants the borrower had to meet, many now have none or are, to use an amusing new phrase, ‘covenant lite,’ ” he writes.

Buxbaum says no one is entirely sure how these looser loan structures will perform when the economy inevitably turns downward: “A sizable proportion of the loans being made by the new lenders may turn out to lack the assets to cover them. In many cases, the market’s entrepreneurial players have been overly aggressive in their policies, making loans on a cash-flow enterprise value basis but still marking them as asset-based loans.

Given those conditions, a recession would likely bring problems for the industry, Buxbaum asserts. “In many cases, money has been lent by companies in the belief that if the loan didn’t work out, the new-style lender would simply take over the company – in other words, they are lending to own,” he notes. “But if they are forced by a sour economy to own the company, they will need the ability to run and manage it.” That will mean added expense, probably in the form of hiring a turnaround firm to run the company.

“It’s always dangerous when risk is divorced from outcome,” Buxbaum concludes. “Many of these parties are playing with other people’s money. There always seems to be someone willing to do a deal, and the appetite for new money continues to grow. What will happen when the music stops? No one really knows.”

Press Contacts: At Buxbaum Group, Stevan Buxbaum, (800) 990-6820; at Parness & Associates Public Relations, Lisa Kreda or Bill Parness, (732) 290-0121.