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

AlphaSense Staff

Over 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 analyst predictions of a wave of bankruptcies, with eyes on the hard-hit energy and retail sectors, have started to come true. Both industries saw increases in industry chatter around restructuring, downgrades and negative outlooks starting in May and the trend line has continued throughout the summer.

AS-Blog-Bankruptcies-DocumentTrend-aug-2020-a

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.

Bankruptcy Filings (March 2020 to date)-a

Companies consistently filed for COVID-related bankruptcies since early March, with the pace sharply increasing in April. The heightened pace of filings continued into June with 24 Hour Fitness, Level Europe and Tuesday Morning all filing earlier this summer. While the pace of these bankruptcy filings has slightly abated since its peak in mid-June, it remains elevated from the pre-covid bankruptcy rate. 

Bankruptcies by Sector -a

Consumer discretionary companies have been hit the hardest during the pandemic, accounting for 39% of filings analyzed, and analysts continue to predict further bankruptcies on the horizon. Coming in second place for filing volume, energy companies now account for almost a quarter of filings analyzed due to the increased pace starting in June. 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
KB US Holdings, Inc. Consumer Staples 8/23 Chapter 11
FR TNT Holdings LLC Industrials 8/23 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
Pharmagreen Biotech Healthcare 8/11 Chapter 11
Hermitage Offshore Services Energy 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
Noble Corporation Energy 7/30 Chapter 11
Denbury Resources Energy 7/30 Chapter 11
The McClatchy Company Communication Services 7/24 Chapter 11
Brooks Brothers Consumer Discretionary 7/24 Chapter 11
IMH Financial Corporation Financials 7/23 Chapter 11
Ascena Retail Grouo Consumer Discretionary 7/23 Chapter 11
Rhino Resource Partners Energy 7/22 Chapter 11
Global Eagle Entertainment Consumer Discretionary 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
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
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
Proteus Digital Health Healthcare 6/16 Chapter 11
PCT International Information Technology 6/16 Chapter 11
First Choice Healthcare Solutions Healthcare 6/15 Chapter 11
Vitalibis Inc Healthcare 6/15 Chapter 11
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
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
Akorn Inc Healthcare 5/29 Chapter 11
Advantage Rent A Car Consumer Discretionary 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
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
Renown Inc Consumer Discretionary 5/15 Other
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
Penumbra Brands Healthcare 5/8 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
Sunex International Industrials 4/23 Chapter 11
Speedcast International Communication Services 4/23 Chapter 11
Ratner Companies Consumer Discretionary 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
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
Amazing Energy Oil & Gas Energy 4/6 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
Broadvision Information Technology 3/30 Chapter 11
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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