Markets

A record 46 billion-dollar companies have filed for bankruptcy in the US this year as the pandemic continues to wreak havoc and its far from over, say experts

A record 46 companies with at least $US1 billion in assets have filed for Chapter 11 bankruptcy this year, the Financial Times reported, citing BankruptcyData.com. The previous record was 38 billion-dollar businesses during the same period of 2009. JCPenney, Brooks Brothers, and Chesapeake Energy are among the big companies that […]
A record 46 billion-dollar companies have filed for bankruptcy in the US this year as the pandemic continues to wreak havoc and its far from over, say experts
Markets

Bankruptcy risks pose the greatest threat to the stock market’s rally to near-record levels, famed economist Mohamed El-Erian says

A wave of corporate insolvencies has the best chance at dragging stocks from their lofty prices, Mohamed El-Erian, chief economic advisor at Allianz, said Monday. Investors have looked through US-China tensions, stretched valuations, stimulus delays, and surging COVID cases in recent weeks to push stocks higher. “You have a very […]
Bankruptcy risks pose the greatest threat to the stock market’s rally to near-record levels, famed economist Mohamed El-Erian says
News

Chuck E. Cheese files for Chapter 11 bankruptcy protection after much speculation over the children’s dinnertainment chain’s looming demise

CEC Entertainment, the parent company of Chuck E. Cheese, filed for Chapter 11 bankruptcy protection on Thursday. Chuck E. Cheese’s finances have been in freefall since the start of the pandemic, with mounting debt and thrice-downgraded credit scores. Chuck E. Cheese’s brand of dinnertainment is one of many dine-in concepts […]
Chuck E. Cheese files for Chapter 11 bankruptcy protection after much speculation over the children’s dinnertainment chain’s looming demise