Coronavirus Bankruptcy Tracker: These Major Companies Are Failing Amid The Shutdown, Forbes
Scott Williams discusses bankruptcy amid the coronavirus outbreak with Forbes in an article published on May 3, 2020.
The coronavirus pandemic has accelerated the demise of some companies that were already struggling due to stay at home orders and economic shutdowns across the county. Among those companies are some well-known retailers and big-name companies.
“It has been a poorly-kept secret that a number of the big-box retailers were struggling,” explains Williams. “There has not been a dramatic uptick in the last 45 days. What I think you’ve seen is lots of people being forced into, ‘I’m going to get there at some point’.”
Companies that file Chapter 11 bankruptcy negotiate with creditors to restructure debt terms.