In latest the Weekly Wright Report:
- 2020 is Seeing Unprecedented Bankruptcies Due to COVID-19 – read now
by Doug Seitz
According to James Hammond, CEO of New Generation Research, “we are seeing an acceleration in bankruptcies that is unprecedented.” Bankruptcies this year have already surpassed those from 2008, and this doesn’t even include what could happen when the Paycheck Protection Program runs out. Sectors ranging from the travel industry to retail have all suffered due to COVID-19.
According to Epiq, more than 3,600 companies filed for bankruptcy in the first half of 2020. In June alone, over 600 filed which is up 43 percent from June 2019.
Here are some of the companies that have filed for bankruptcy in 2020 so far:
- Gold’s Gym
- Neiman Marcus
- C. Penney
- Tuesday Morning
- 24 Hour Fitness
- Chuck E. Cheese
- Lucky Brand
- Brooks Brothers
- Sur La Table
- New York & Company
- Ann Taylor
- Lane Bryant
At Wright, Constable & Skeen we provide quality legal representation to clients who have been impacted by a bankruptcy filing as well as creditors’ rights disputes before the bankruptcy starts. We represent creditors in all aspects of bankruptcy practice including preference actions, improper Chapter 11 Plans and reorganizations, and creditor´s committees. If you would like to speak to one of our attorneys from our Bankruptcy & Creditors’ Rights Law Group, call us at (410) 659-1300.
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