Like many jurisdictions, the US has seen a surge in bankruptcy filings amid the Covid-19 pandemic. Retailers already burdened by unfavourable lease obligations and a general shift in consumer preference to e-commerce have borne the brunt of the crisis. In the first two quarters of 2020, nearly 20 major retailers sought Chapter 11 protection in the US, including high-profile brands such as JC Penney, Neiman Marcus, J Crew, Pier 1 Imports, John Varvatos, True Religion, Modell’s Sporting Goods and GNC.
The energy sector has also seen a dramatic increase in Chapter 11 filings. During the first half of 2020, 40 energy companies filed for Chapter 11 the most since 2016. While these two sectors made up the largest share of filings in th…
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