70 Companies That Have Filed for Bankruptcy Amidst COVID-19

AlphaSense Staff

Almost 6 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 Boeing CEO, Dave Calhoun has predicted the bankruptcy of a major U.S. airline this year. 

Calhoun doesn’t stand alone in his views. Many analysts are predicting a wave of bankruptcies in the coming months, with eyes on the hard-hit energy and retail sectors, both of which are seeing increases in industry chatter around restructuring, downgrades and negative outlook.

AS-Blog-Bankruptcies-DocumentTrend (1)

Industry chatter on bankruptcies, restructuring, and negative outlook has sharply increased over the past six 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.

AS-Blog-Bankruptcies-bar-chart

Companies have been consistently filing for bankruptcy since early March, with the pace sharply increasing in April. The heightened pace of filings is continuing into June with 24 Hour Fitness, Level Europe and Tuesday Morning all filing this month.

AS-Blog-Bankruptcies-PieChart

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, restaurant groups and international airlines have all succumbed to bankruptcy filings due to COVID-19.

Company

GICs

Filing Date

Type

Level Europe

Industrials

6/18

Other

Pyxus International

Consumer Staples

6/15

Chapter 11

Garden Fresh Restaurants, LLC

Consumer Discretionary

6/15

Chapter 7

Extraction Oil & Gas, Inc

Energy

6/15

Chapter 11

24 Hour Fitness

Consumer Discretionary

6/15

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

NMC Healthcare

Healthcare

5/28

Chapter 15

Latam Airlines

Industrials

5/27

Chapter 11

Le Pain Quotidien

Consumer Discretionary

5/27

Chapter 11

Hertz

Industrials

5/22

Chapter 11

Exide Technologies

Energy

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

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

Neiman Marcus

Consumer Discretionary

5/7

Chapter 11

Techniplas

Industrials

5/7

Chapter 11

John Varvatos Enterprises

Consumer Discretionary

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

Speedcast International

Communication Services

4/23

Chapter 11

Ratner Companies

Consumer Discretionary

4/23

Chapter 11

Virgin Australia

Industrials

4/21

Other

MQ

Consumer Discretionary

4/16

Other

Yuma Energy

Energy

4/16

Chapter 11

Frontier Communications Corp

Communication Services

4/14

Chapter 11

True Religion

Consumer Discretionary

4/13

Chapter 11

Hornbeck Offshore Services

Energy

4/13

Chapter 11

LSC Communications

Industrials

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

Art Van Furniture

Consumer Discretionary

4/6

Chapter 7

Debenhams

Consumer Discretionary

4/6

Other

Whiting Petroleum

Energy

4/1

Chapter 11

Dean & DeLuca

Consumer Staples

4/1

Chapter 11

BrightHouse

Real Estate

3/30

Other

Carluccio’s

Consumer Discretionary

3/30

Other

 

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