Please note that log in for BLAW products will be unavailable for scheduled maintenance on Sunday, February 5th from approximately 4 AM to 5 AM EST.
Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

U.S. Bankruptcy Tracker: Pandemic Spurs Most Filings Since 2009

Jan. 5, 2021, 2:00 PM

More large U.S. companies filed for bankruptcy in 2020 than in any year since the global financial crisis, after the pandemic tipped swaths of the economy into distress.

Energy, retail and consumer services companies led a total of 244 filings, according to data compiled by Bloomberg. That was the most since 2009, when 293 U.S. companies sought protection from creditors.

Credit markets have rallied, lifting many borrowers out of distress, but bankruptcy experts predict another wave of filings that could start in the second quarter of 2021 as cash runs out. Energy, retail, consumer and travel companies remain vulnerable ...