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As U.S. retailers celebrate a boom lifting one of the pandemic’s hardest-hit sectors, scars left by a year of bankruptcies and delayed vendor payments could threaten to undermine their recovery – just as the crucial back-to-school shopping season begins.
After watching their receivables mount last year, vendors of apparel and other goods demanded change. In order to ship, many began requiring payment upon delivery of the goods or even in advance, according to people with knowledge of the demands, which were made of distressed and healthy clients alike. For merchants, that’s a big cash drain at a time of great uncertainty.
Stiffed Vendors Get Tough With U.S. Retailers After Big Losses By Lauren Coleman-Lochner and Eliza Ronalds-Hannon | May 4, 2021
As U.S. retailers celebrate a boom lifting one of the pandemic’s hardest-hit sectors, scars left by a year of bankruptcies and delayed vendor payments could threaten to undermine their recovery just as the crucial back-to-school shopping season begins.
After watching their receivables mount last year, vendors of apparel and other goods demanded change. In order to ship, many began requiring payment upon delivery of the goods or even in advance, according to people with knowledge of the demands, which were made of distressed and healthy clients alike. For merchants, that’s a big cash drain at a time of great uncertainty.
Smith House Galleries announces May Rocktown Camera Club exhibition
Published Sunday, Apr. 18, 2021, 12:34 pm
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Arts Council of the Valley announces a Smith House Galleries virtual exhibition May 3-28, featuring works by nine Rocktown Camera Club photographers.
Available on facebook.com/acofthevalley, the exhibition is sponsored by United Bank. Additional support comes from ACV’s 2021 Cultivating the Arts Platinum Sponsors: Matchbox Realty, Kathy
Moran Wealth Group, and Riner Rentals.
The online exhibition (also available at valleyarts.org/current-exhibition) features 20 black and white photographs, along with 23 color images highlighting views of the Shenandoah Valley.
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Lynn Whitmore banks DTC brands like Casper and Chewy at Wells Fargo.
Pandemic-spiked sales have made it more challenging to determine which DTCs are loan-worthy, she said.
While some DTCs have leaned into pop-up stores, others have put their physical retail plans on ice, she said.
The last year has upended direct-to-consumer brands plans, and Lynn Whitmore has had a front-seat view of it all.
A managing director at Wells Fargo, Whitmore banks retail clients from large chains to small startups. Over the years, her clients in the e-commerce world have included Overstock.com and designer apparel retailer Bluefly. More recently, she s worked with mattress startup Casper and online pet retailer Chewy