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Chapter 11 Business Bankruptcies Rose 26% in First Half of 2020

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Chapter 11 business bankruptcy filings increased 26% in the first half of this year as more U.S. companies sought protection from creditors during the coronavirus pandemic, according to legal-services firm Epiq Systems

Chapter 11 business bankruptcy filings increased 26% in the first half of this year as more companies sought protection from creditors during the coronavirus pandemic, according to legal-services firm Epiq Systems Inc.

U.S. courts recorded a total of 3,604 businesses filing for chapter 11 protection in the first six months of 2020, up from 2,855 in the first half of 2019, Epiq said based on data from its Aacer business unit. Commercial chapter 11 filings were up 43% last month from June of last year.

 

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The only successful Penney’s is the Irish one which trades as Primark worldwide!

Duh like this wasn’t known

WSJ, that means there are going to be a lot of UNPAID vendors, suppliers, property managers, etc... they’ll get pennies on the dollar from JC Penny’s... no pun intended

realDonaldTrump GOP POTUS SenSchumer senatemajldr now what?

Unsurprising i suppose but sad. Was awful to see Cirque in trouble too...

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 /  🏆 98. in JP

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