U.S. Bankruptcy Filings Cool Off After A Busy March Start
After a burst of bankruptcy in the first half of March, U.S. filings slowed to a trickle.
Only two companies with at least $50 million of liabilities sought protection from creditors in the U.S. last week, according to data compiled by Bloomberg. That’s the slowest seven-day stretch in five weeks.
Last week was all about financial services, with a U.S. unit of embattled supply chain finance firm Greensill Capital entering court protection, listing liabilities of just over $50 million. In addition, defunct broker dealer First Standard Financial LLC filed a Chapter 7, two years after the state of New Jersey revoked its registration.
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Bloomberg News by Jeremy Hill and Katherine Doherty. Published March 30, 2021.