Restructuring firms are seeing a business boom due to the coronavirus - Business Insider

Max Mumby/Indigo/Getty ImagesFirms that help to restructure or wind down distressed startups and other companies are seeing a big pick-up in business.

Companies are less willing to spend up to acquire startups and other firms and instead are turning to Sherwood and Diablo Management Group, another restructuring company, to buy only the assets of their acquisition targets, leaving their liabilities behind.The US economy may still be in the dumps, but for Martin Pichinson, these are boom times.

"I called it the great unwinding. You can call it the end of an era," he said. "It's the unwinding of what's not needed." "People are just looking for information to help them develop contingency plans," Couch said. "They're coming up on year-end," he continued. "They're going to be starting to look at write-offs."Sherwood Partners has seen a surge in business since the onset of the pandemic, cofounder Martin Pichinson said.The coronavirus crisis has sparked major changes in everything from travel to dining to the use of office space.

Since the onset of the pandemic, the amounts would-be acquirers are willing to pay has declined, Pichinson said. With investors unwilling to sink more money into many struggling startups, those startups and their investors don't have many options, he said.Diablo has done a number of those deals in recent years, too, Couch said.

is this guy on the right hitting a juul lol

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