U.S. Bankruptcy Tracker: Retail, Energy Set Grim Milestones
- The first half saw most retail sector bankruptcies on record
- Distressed bond and loan volume grew for first time in months
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More U.S. retail companies sought bankruptcy protection in the first half of 2020 than in any other comparable period. Energy filings piled up at the fastest pace since oil prices plunged in 2016, data compiled by Bloomberg show.
There have been 75 filings among all companies with liabilities of at least $50 million in the last three months, matching the same period of 2009, the second-worst quarter ever. Signaling more trouble ahead, the universe of issuers with bonds trading at distressed levels expanded for the first time since April.