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Pandemic Spurs Most Bankruptcy Filings Since 2009

  • Retail, consumer services, energy sectors led Chapter 11 spree
  • Second wave of bankruptcies is predicted to start in 2Q

More large U.S. companies filed for bankruptcy in 2020 than in any year since the global financial crisis, after the pandemic tipped swaths of the economy into distress.

Energy, retail and consumer services companies led a total of 244 filings, according to data compiled by Bloomberg. That was the most since 2009, when 293 U.S. companies sought protection from creditors.