Bracing for the next phase of the coronavirus recession: Bankruptcies

[Peter1469]

Bracing for the next phase of the coronavirus recession: Bankruptcies

Of course. When the government prohibits businesses from operating, there will be bankruptcies.

Recent data show 722 companies sought bankruptcy protection around the U.S. last month, a 48% increase from the year-ago period. Chapter 11 filings also jumped in April and March, as states started imposing business restrictions amid the coronavirus outbreak.

"This is a sign that already weak companies are succumbing to the lockdown recession," Chris Kuehl, an economist with the National Association of Credit Management, which tracks bankruptcies, said in a research note. Businesses that were struggling before the pandemic "are starting to get in some real trouble," he added


Among those long-distressed companies finally tipped into bankruptcy by the economic fallout from COVID-19: Gold's Gym, Hertz, J. Crew, J.C. Penney and Neiman Marcus.

[Peter1469]

As Many as 25,000 U.S. Stores May Close in 2020, Mostly in Malls

Something will take their place. Malls have been going downhill for a while since they are no places for kids to go and cause trouble.

(Bloomberg) -- As many as 25,000 U.S. stores could close permanently this year after the coronavirus pandemic devastated an industry where many mall-based retailers were already struggling.

[Common]

The corona virus isnt gone, but you cant keep the entire country in a closet because of it. Houston after the riots has a huge uptick in cases.

National Guard who were sent to dc to control riots have come down with many cases of the virus

[Common]

I read earlier up to 25% of small business may not reopen