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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