This year could be a record year for mega-bankruptcy – experts

This year we should expect a wave of bankruptcies, experts say. The Coronavirus Pandemic has hit many famous and to little-known companies. According to Edward Altman, the author a popular method of predicting bankruptcies, this year could be a record-breaking year for companies with debts of $1 billion or more. And the number of bankruptcies of organizations with debts of $100 million and more will be comparable with the crisis of 2008. At the same time, according to a professor of finance at the New Business School of Edward Altman University of York, the situation will not change even if the economy rebounds strongly in the coming months. Damage during the pandemic, for many representatives the business was too serious to recover. Among others. companies on the verge of bankruptcy - gas company Chesapeake Energy, previously ranked second in the country by It's worth 9 billion; its debts are at risk of financial instability. the position of Tailored Brands, Weatherford International. Number of companies that have filed for bankruptcy protection, is approaching 7,000.