""Businesses are struggling," said Alex Hennick, president and CEO of A.D. Hennick and Associates, a liquidation firm which specializes in distressed asset recovery. "The economy is tough right now. The cost of manufacturing is up, traffic is down, and retail sales are down. So this can be a situation where the company is struggling and they need this money in order to survive.""
""It's a situation where people are trying to be creative," he told Fortune."
"A KPMG survey in February found more than half of U.S. companies experienced compressing margins, with 82% reporting a decline in foreign sales, while 61% reporting a decline in domestic ones."
"In February, the Supreme Court deemed tariffs imposed under the International Emergency Economic Powers Act (IEEPA) unlawful and laid the groundwork for U.S. companies to recoup what they paid over the year the tariffs were in place."
The Supreme Court's recent ruling against President Trump's tariffs has opened the door for U.S. importers to claim approximately $166 billion in refunds. However, many companies are currently facing financial difficulties due to supply chain issues, rising energy costs, and declining consumer confidence. A significant percentage of businesses report reduced sales and delayed investments. The ruling, while beneficial in theory, leaves uncertainties regarding the timing and amount of refunds, as the specifics are to be determined by other governmental bodies.
Read at Fortune
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