Thursday, May 28, 2020

Bankruptcy cases, store closings pile up as coronavirus wreaks havoc for J.C. Penney, Hertz, others

USA Today
Companies are rushing to U.S. Bankruptcy Court during the coronavirus pandemic, seeking refuge from their creditors as they grapple with the fallout from temporary store closures and the travel industry shutdown.

Coresight Research, which tracks retail openings and closings, has upped its projected store closures for 2020 from 8,000 at the beginning of the year to 15,000 at the beginning of March to about 25,000 now. . . . more