As the economic repercussions from the COVID pandemic continue to unfold, corporate bankruptcies are piling up.
S&P Global Market Intelligence says US corporate bankruptcies reached their worst levels since 2010 when 900 companies declared bankruptcy. In all, 630 companies declared bankruptcy during the year. In 2019, 578 companies declared bankruptcy, while 513 declared bankruptcy in 2018.
S&Ps analysis is limited to public companies or private companies with public debt where either assets or liabilities at the time of the bankruptcy filing are at least $2 million.
As COVID forced lockdowns across the country, many retailers suffered. The high-profile bankruptcies included Neiman Marcus Group Inc., J. C. Penney Co. Inc., Ascena Retail…
Read the full article at: https://www.globest.com/2021/01/07/corporate-bankruptcies-end-2020-at-10-year-high/
