Market trends

150+ Companies That Have Filed for Bankruptcy Amidst COVID-19

Kailey Raymond

|

June 18, 2020


Out of Business against city background.
Out of Business against city background.

Almost 9 months into a global pandemic marked by global lockdown measures and store closures, the economic impact of the coronavirus pandemic has been stark. One outcome of these challenging times is a distinct rise in bankruptcy filings. The month of May saw an almost 50% YoY increase in Chapter 11 filings and the filing pace continues to mount, albeit at a slower pace than we saw this spring.

While the pace has slowed, the trend is far from over. Some of the hardest hit sectors, including restaurants and brick-and-mortar retailers, continue to see major companies file weekly. Analysts are still keeping an eye on another wave of bankruptcies in the coming months, with eyes on the hard-hit energy and consumer discretionary sectors, both of which have seen heightened levels of industry chatter around restructuring, downgrades and negative outlook for months on end.

Industry chatter on bankruptcies, restructuring, and negative outlook has sharply increased over the past twelve months. AlphaSense users can see the search here. Don’t have platform access and would like to track real-time bankruptcy chatter? Request complimentary access here.

Below, we’ve compiled a non-exhaustive list of companies that have filed since the beginning of March when global pandemic lockdown measures were implemented.

 

Companies have been consistently filing for bankruptcy since early March, with the pace sharply increasing in April. Although the pace has slowed, major chains like FIC Restaurants and Ruby Tuesday’s, as well as two large mall operators, Pennsylvania Real Estate Trust and CBL Properties have all filed within the past month.

 

Consumer discretionary and energy companies have been hit the hardest during the pandemic and analysts predict further bankruptcies on the horizon. Amongst the hardest hit businesses, retailers, movie theaters, energy companies, restaurant groups and international airlines have all succumbed to bankruptcy filings due to COVID-19.

Company Sector Filing Date Type
Superior Energy
Services
Energy 11/6 Chapter 11
FIC Restaurants Consumer Discretionary 11/1 Chapter 11
Pennsylvania Real Estate Investment Trust Real Estate 11/1 Chapter 11
CBL Properties Real Estate 11/1 Chapter 11
Pacific Drilling S.A. Energy 10/30 Chapter 11
Rubio’s Consumer Discretionary 10/26 Chapter 11
NinePoint Medical Healthcare 10/16 Chapter 11
YogaWorks Consumer Discretionary 10/14 Chapter 11
Mallinckrodt Healthcare 10/12 Chapter 11
MD America Energy Energy 10/12 Chapter 11
Ruby Tuesday Consumer Discretionary 10/7 Chapter 11
Beamable Information Technology 10/1 Chapter 11
Lonestar Resources Energy 10/1 Chapter 11
Oasis Petroleum Energy 9/29 Chapter 11
FTS International Energy 9/22 Chapter 11
Sizzler Consumer Discretionary 9/21 Chapter 11
Garrett Motion Consumer Discretionary 9/20 Chapter 11
RGN Group Holdings Real Estate 9/19 Chapter 11
Town Sports
International
Consumer Discretionary 9/14 Chapter 11
Technicolor Communication Services 9/11 Chapter 15
Century 21 Consumer Discretionary 9/10 Chapter 11
iQOR Holdings Industrials 9/10 Chapter 11
FR TNT Holdings LLC Industrials 8/23 Chapter 11
KB US Holdings, Inc. Consumer Staples 8/23 Chapter 11
Arena Energy Energy 8/20 Chapter 11
Valaris Plc Energy 8/19 Chapter 11
Chaparral Energy Inc Energy 8/16 Chapter 11
Stein Mart Consumer Discretionary 8/12 Chapter 11
Hermitage Offshore Services Energy 8/11 Chapter 11
Pharmagreen Biotech Healthcare 8/11 Chapter 11
Le Tote Inc Consumer Discretionary 8/2 Chapter 11
Tailored Brands Consumer Discretionary 8/2 Chapter 11
California Pizza
Kitchen
Consumer Discretionary 7/30 Chapter 11
Denbury Resources Energy 7/30 Chapter 11
Noble Corporation Energy 7/30 Chapter 11
Brooks Brothers Consumer Discretionary 7/24 Chapter 11
The McClatchy Company Communication Services 7/24 Chapter 11
Ascena Retail Group Consumer Discretionary 7/23 Chapter 11
IMH Financial
Corporation
Financials 7/23 Chapter 11
Global Eagle
Entertainment
Consumer Discretionary 7/22 Chapter 11
Rhino Resource
Partners
Energy 7/22 Chapter 11
Briggs & Stratton Industrials 7/20 Chapter 11
California Resources
Corp
Energy 7/15 Chapter 11
RTW Retailwinds Inc Consumer Discretionary 7/13 Chapter 11
Hi-Crush Energy 7/12 Chapter 11
Muji USA Consumer Discretionary 7/10 Chapter 11
Sur La Table Consumer Discretionary 7/8 Chapter 11
Endologix Healthcare 7/5 Chapter 11
Lucky Brand Dungarees Consumer Discretionary 7/3 Chapter 11
Grupo
Aeromexico S.A.B. de C.V
Industrials 7/1 Chapter 11
NPC International Consumer Discretionary 7/1 Chapter 11
Rosehill Resources Energy 7/1 Chapter 11
Covia Holdings Energy 6/29 Chapter 11
Lilis Energy Energy 6/29 Chapter 11
Cirque du Soleil Consumer Discretionary 6/29 Chapter 15
Chesapeake Energy Energy 6/28 Chapter 11
CEC Entertainment Consumer Discretionary 6/25 Chapter 11
Jason Industries Industrials 6/24 Chapter 11
GNC Holdings Consumer Discretionary 6/23 Chapter 11
Windstream Holdings Communication Services 6/22 Chapter 11
Chineseinvestors.com Financials 6/18 Chapter 11
Level Europe Industrials 6/18 Other
Players Network Healthcare 6/17 Chapter 11
PCT International Information Technology 6/16 Chapter 11
Proteus Digital
Health
Healthcare 6/16 Chapter 11
24 hour fitness Consumer Discretionary 6/15 Chapter 11
Extraction Oil
& Gas, Inc
Energy 6/15 Chapter 11
First
Choice
Healthcare Solutions
Healthcare 6/15 Chapter 11
Garden Fresh
Restaurants, LLC
Consumer Discretionary 6/15 Chapter 7
Pyxus International Consumer Staples 6/15 Chapter 11
Vitalibis Inc Healthcare 6/15 Chapter 11
Skillsoft PLC Information Technology 6/14 Chapter 11
Aradigm Corp Healthcare 6/12 Chapter 11
MID-CON ENERGY
PARTNERS, LP
Energy 6/10 Chapter 7
Vista
Proppants and Logistics, LLC
Energy 6/10 Chapter 11
Swissport
International AG
Industrials 6/9 Other
APC Automotive Industrials 6/4 Chapter 11
Barfly Ventures Consumer Discretionary 6/4 Chapter 11
Sail Outdoors Consumer Discretionary 6/3 Other
Tuesday Morning Consumer Discretionary 6/3 Chapter 11
Libbey Consumer Discretionary 6/1 Chapter 11
Libre Abordo Energy 6/1 Other
Advantage Rent A Car Consumer Discretionary 5/29 Chapter 11
Akorn Inc Healthcare 5/29 Chapter 11
NMC Healthcare Healthcare 5/28 Chapter 15
Fomento Económico Mexicano, S.A.B. de C.V Consumer Staples 5/27 Chapter 7
Latam Airlines Industrials 5/27 Chapter 11
Le Pain Quotidien Consumer Discretionary 5/27 Chapter 11
Dollar
Thrifty
Automotive Group
Industrials 5/22 Chapter 11
Exide Technologies Energy 5/22 Chapter 11
Chapter 15 Industrials 5/22 Chapter 11
Unit Corporation Energy 5/22 Chapter 11
IntegraMed America Healthcare 5/20 Chapter 7
Digicel Communication Services 5/19 Chapter 15
Reitmans Consumer Discretionary 5/19 Other
Centric Brands Consumer Discretionary 5/18 Chapter 11
Comcar Industries Industrials 5/17 Chapter 11
JC Penney Consumer Discretionary 5/15 Chapter 11
Renown Inc Consumer Discretionary 5/15 Other
Ultra Petroleum Energy 5/14 Chapter 11
intelsat sa Communication Services 5/13 Chapter 11
Avianca Holdings S.A Industrials 5/10 Chapter 11
stage stores Consumer Discretionary 5/10 Chapter 11
Aldo Consumer Discretionary 5/8 Chapter 15
Penumbra Brands Healthcare 5/8 Chapter 11
John Varvatos
Enterprises
Consumer Discretionary 5/7 Chapter 11
Neiman Marcus Consumer Discretionary 5/7 Chapter 11
Techniplas Industrials 5/7 Chapter 11
Gold’s Gym Consumer Discretionary 5/6 Chapter 11
J Crew Consumer Discretionary 5/5 Chapter 11
OneWeb Information Technology 5/1 Chapter 11
Edcon Consumer Discretionary 4/29 Other
TooJays Consumer Discretionary 4/29 Chapter 11
CMX Cinemas Consumer Discretionary 4/28 Chapter 11
Foodora Consumer Discretionary 4/27 Other
CB Theatre
Experience, LLC
Consumer Discretionary 4/26 Chapter 11
Diamond Offshore
Drilling
Energy 4/26 Chapter 11
Cinemex Holdings Consumer Discretionary 4/25 Chapter 11
Ratner Companies Consumer Discretionary 4/23 Chapter 11
Speedcast
International
Communication Services 4/23 Chapter 11
Sunex International Industrials 4/23 Chapter 11
Elk Petroleum Energy 4/21 Chapter 11
Virgin Australia Industrials 4/21 Other
Premier Petroleum Energy 4/20 Chapter 11
Level Solar Energy 4/17 Chapter 11
MQ Consumer Discretionary 4/16 Other
Yuma Energy Energy 4/16 Chapter 11
Dash Group Information Technology 4/15 Chapter 11
Chapter 11 Communication Services 4/14 Chapter 11
Frontier
Communications Corporation
Communication Services 4/14 Chapter 11
Hornbeck Offshore
Services
Energy 4/13 Chapter 11
LSC Communications Industrials 4/13 Chapter 11
True Religion Consumer Discretionary 4/13 Chapter 11
FoodFirst
Global
Restaurants
Consumer Discretionary 4/11 Chapter 11
Hin Leong Energy 4/10 Other
Apex Parks Group Consumer Discretionary 4/8 Chapter 11
Quorum Health Healthcare 4/7 Chapter 11
RavnAir Industrials 4/7 Chapter 11
Amazing Energy
Oil & Gas
Energy 4/6 Chapter 11
Art Van Furniture Consumer Discretionary 4/6 Chapter 7
Debenhams Consumer Discretionary 4/6 Other
Dean & DeLuca Consumer Staples 4/1 Chapter 11
Whiting Petroleum Energy 4/1 Chapter 11
BrightHouse Real Estate 3/30 Other
Broadvision Information Technology 3/30 Chapter 11
Carluccio’s Consumer Discretionary 3/30 Other
Nygard Entities Consumer Discretionary 3/19 Chapter 15
Modell’s Sporting
Goods
Consumer Discretionary 3/12 Chapter 11
Foresight Energy Energy 3/10 Chapter 11
Bluestem Brands Consumer Discretionary 3/9 Chapter 11

 

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Kailey Raymond

A customer-obsessed and data-driven marketer, Kailey Raymond leads Customer Marketing at AlphaSense. Previously, she was an early employee at two high-growth tech startups, in charge of launching new markets and building local communities.


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