U.S. Bankruptcy Tracker: Perella Sees 2021 Bust as Cash Runs Out

Companies piling on debt to get through the pandemic may end up starting a bankruptcy wave in the second quarter next year if Covid-19 drags on, says Perella Weinberg Partners Group LP’s restructuring chief.

“Companies that have historically been able to raise liquidity won’t be able to continue to withstand the operating and liquidity pressures of an extended pandemic,” Bruce Mendelsohn, partner at Perella, said in an interview.

After a recent slowdown in filings by large U.S. companies, Mendelsohn predicts a spike in bankruptcies in the second through fourth quarters of next year, with malls and retailers among ...