Squeezed by Industry Troubles, Retail In-House Attorneys Window Shop for Other Jobs
Retailers are closing their doors, and in-house attorneys in the industry are feeling the effects.
July 18, 2017 at 08:14 PM
7 minute read
The original version of this story was published on Corporate Counsel
When Michael Brizel worked as the general counsel for luxury retailer Saks Inc. from 2007 to 2013, sales were declining and store closures became increasingly common. Morale within the legal department sank at times, especially for Saks' in-house real estate lawyer during the Great Recession.
“It got to the point where all she was doing everyday was calling mall owners and developers to negotiate getting out of our leases,” Brizel recalled. “It was a really stressful and emotionally difficult time.”
Retailers' struggles continue to this day. As the list of store closures continues to add up, so do the challenges for in-house lawyers across the industry. Between bankruptcies and consolidation, there are fewer jobs for traditional retail lawyers and more attorneys are looking to get out, if they haven't already.
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