As default rates are rising, creditors are receiving rock bottom recoveries on their debt. Trade credit is even more vulnerable, likely to accept pennies on the dollar.
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Public company bankruptcies soared in 2020, and filings continue to roll in as fallout from COVID-19. Here are five of the most notable Chapter 11 cases we've seen so far in 2021, and another five companies we feel are in big-time danger.
The COVID-19 pandemic swiftly delivered hundreds of bankruptcy filings in 2020. Here in 2022, geopolitical tensions, supply chain challenges, and tightening credit conditions could lead to a similar devastating outcome.
CreditRiskMonitor currently estimates that financial losses stemming from U.S. public company bankruptcies alone will be in excess of $1.1 trillion, a greater figure than what was lost during the Great Recession.
As the fallout from one of the biggest bankruptcies of 2019 begins to settle, we see that credit and procurement professionals who evaluate risk in public companies as a habitual practice are proving to be the best at avoiding unnecessary exposure.
The global economy appears to have deteriorated in a significant way during 2019 given the trends in negative-yielding debt.
The coronavirus has reignited challenges for Contura Energy, Inc. and for the coal industry in general, with the price of coal dropping towards multi-year lows.
Commercial bankruptcies in the United States increased for the first time since 2009. Record corporate debt and waning business confidence are striking developments regardless of which industry you are operating within.
Thomas Cook and Virgin Australia, two massive airliners, have filed bankruptcy. Could American Airlines be next?