Doy Estacio walks past a closed Sephora store on Colorado Boulevard in Pasadena on April 2. The store was boarded up to prevent vandalism during the coronavirus crisis. (Al Seib / Los Angeles Times)

As operator of one of the country’s biggest liquidators, Bryant Riley has profited from what’s been called the retail apocalypse — the destruction of shops and big chains largely because of competition from online upstarts.

In retrospect, the term might have been thrown about a bit loosely over the last decade considering what’s happening today: the sudden and indefinite closure of countless stores across the nation and the likelihood that many will not reopen.

“Nobody planned for a zero-revenue scenario,” said Riley, chairman and co-chief executive of B. Riley Financial, an L.A. company that

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