As the pace of large U.S. company bankruptcies stabilizes, escalating tensions between distressed companies, private equity owners, and creditors signal more bruising Chapter 11 filings to come.
In the week ended October 17, four businesses with more than $50 million in liabilities sought protection from creditors, including Mallinckrodt Plc, which was swamped by claims it profited from the U.S. opioid epidemic. The tally is in line with recent weeks, but below the weekly average of more than five since the pandemic started.
There have been 207 bankruptcy filings year-to-date by companies with more than $50 million in liabilities, according to data compiled by Bloomberg. That's the most since 2009, when there were 243 in the comparable period.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.