• Legal Era India
  • Legal Era Global
  • Membership
  • Sign inSUBSCRIBE
Legal Era
X
Sign in
  • Home
  • News
    +
    • From the Courts
    • Policy & Law
    • Supreme Court (India)
    • High Court (India)
    • TAX Updates
    • MARKET WATCH
    • Deal Street
    • Global Insights
    • IBC Cases
    • Hires & Moves
    • IP News
    • Competition Verdict
    • Global Articles
    • Global Deals
  • Articles
    +
    • ABOUT THE LAW
    • AWARDS & ACCOLADES
    • Aerospace
    • Agriculture
    • Alternate Dispute Resolution
    • Banking and Finance
    • Bankruptcy
    • Book Review
    • Bribery & Corruption
    • Commercial Litigation
    • Competition Law
    • Conference Reports
    • Consumer Products
    • Contract
    • Corporate Governance
    • Corporate Law
    • Covid-19
    • Cryptocurrency
    • Cybersecurity
    • Data Protection
    • Defence
    • Digital Economy
    • E-commerce
    • Employment Law
    • Energy and Natural Resources
    • Entertainment and Sports Law
    • Environmental Law
    • FDI
    • Food and Beverage
    • Health Care
    • IBC Diaries
    • Insurance Law
    • Intellectual Property
    • International Law
    • Labour Laws
    • Litigation
    • Litigation Funding
    • Manufacturing
    • Mergers & Acquisitions
    • NFTs
    • Privacy
    • Private Equity
    • Project Finance
    • Real Estate
    • Risk and Compliance
    • Technology Media and Telecom
    • Tributes
    • Zoom In
    • Take On Board
    • In Focus
    • Law & Policy and Regulation
    • IP & Tech Era
    • Viewpoint
    • Arbitration & Mediation
    • Tax
    • Student Corner
    • ESG
    • Gaming
    • Inclusion & Diversity
  • Law Firms
    +
    • Global Law Firm
    • Asia Law Firm
    • India Law Firm
  • In-House
  • Rankings
  • E-Magazine
  • Legal Era TV
  • Legal Era TV
  • Events
  • News
    • From the Courts
    • Policy & Law
    • Supreme Court (India)
    • High Court (India)
    • TAX Updates
    • MARKET WATCH
    • Deal Street
    • Global Insights
    • IBC Cases
    • Hires & Moves
    • IP News
    • Competition Verdict
    • Global Articles
    • Global Deals
  • Articles
    • ABOUT THE LAW
    • AWARDS & ACCOLADES
    • Aerospace
    • Agriculture
    • Alternate Dispute Resolution
    • Banking and Finance
    • Bankruptcy
    • Book Review
    • Bribery & Corruption
    • Commercial Litigation
    • Competition Law
    • Conference Reports
    • Consumer Products
    • Contract
    • Corporate Governance
    • Corporate Law
    • Covid-19
    • Cryptocurrency
    • Cybersecurity
    • Data Protection
    • Defence
    • Digital Economy
    • E-commerce
    • Employment Law
    • Energy and Natural Resources
    • Entertainment and Sports Law
    • Environmental Law
    • FDI
    • Food and Beverage
    • Health Care
    • IBC Diaries
    • Insurance Law
    • Intellectual Property
    • International Law
    • Labour Laws
    • Litigation
    • Litigation Funding
    • Manufacturing
    • Mergers & Acquisitions
    • NFTs
    • Privacy
    • Private Equity
    • Project Finance
    • Real Estate
    • Risk and Compliance
    • Technology Media and Telecom
    • Tributes
    • Zoom In
    • Take On Board
    • In Focus
    • Law & Policy and Regulation
    • IP & Tech Era
    • Viewpoint
    • Arbitration & Mediation
    • Tax
    • Student Corner
    • ESG
    • Gaming
    • Inclusion & Diversity
  • Law Firms
    • Global Law Firm
    • Asia Law Firm
    • India Law Firm
  • In-House
  • Rankings
  • E-Magazine
  • Legal Era TV
  • Legal Era TV
  • Events

Top Stories

HomeNewsGlobal InsightsAmerica
2 July 2020 12:19 PM GMT

US hit by wave of big ticket bankruptcies amidst Covid-19 pandemic

By Legal Era

The United States (US) is witnessing a wave of bankruptcies of erstwhile storied names especially in the retail and energy sector due to Covid-19 pandemic. The bankruptcies this year due to Covid-19 have already gone past the number and volume seen in 2008, the year of the global Financial Crisis.The biggest bankruptcy has been Hertz, the car rental company.The bankruptcy list is dominated...

ToRead the Full Story, Subscribe to Legal Era

Access the exclusive LEGAL ERAStories,Editorial and Expert Opinion

Subscribe Now
AlreadyaSubscriber?SigninNow
View Plans

bankruptcies

The United States (US) is witnessing a wave of bankruptcies of erstwhile storied names especially in the retail and energy sector due to Covid-19 pandemic. The bankruptcies this year due to Covid-19 have already gone past the number and volume seen in 2008, the year of the global Financial Crisis.

The biggest bankruptcy has been Hertz, the car rental company.

The bankruptcy list is dominated by sectors like restaurants, construction, real estate, healthcare, oil and gas, retail, transportation, agriculture, banking and financial services and telecom.

Major US retailers J.C. Penney, Neiman Marcus, J. Crew, Gold’s Gym, True Religion Apparels, among others, have filed for bankruptcy under Chapter 11 (Reorganization Bankruptcy) of the US Bankruptcy Code in the past few months.

Analysts expect more bankruptcy filings in industries like retail and the energy sector, which have been hit by lower demand.

Chesapeake Energy, a shale oil company, filed for bankruptcy protection on Sunday. With assets of roughly $16.2 billion and liabilities of $11.8 billion, the filing represents the fourth-largest bankruptcy this year.

The other big bankruptcies include Latam Airlines, Frontier Communications, Intelsat, McDermott International, Whiting Petroleum, Avianca Holdings, Diamond Offshore Drilling, Extraction Oil and Gas, Hornbeck Offshore, Foresight Services, Unit Corporation, Chuck E Cheese, Stage Stores, LSC Communications, Quorum Health.

Next Story
Similar Posts
Trending Now
Recommended Articles
  • News
  • From the Courts
  • Supreme Court (India)
  • High Court (India)
  • Global Insights
  • Deal Street
  • Hires & Moves
  • Refund & Cancellation Policy
  • Articles
  • Zoom In
  • Take On Board
  • In Focus
  • Law & Policy
  • IP & Tech Era
  • Viewpoint
  • Arbitration & Mediation
  • Tax
  • Student Corner
  • Interviews
  • Law Firms
  • E-Magazine
  • Legal Era TV
  • Membership
  • Reader's Feedback
  • Cartoons
  • Subscribe
  • Advertise
Follow Us
Subscribe Newsletter
  • 2023© All rights reserved Legal Era Media Group
  • Who We Are
  • Careers
  • Advertise with Us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
Powered by  Hocalwire
X
X
We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and Cookie Settings.Ok