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A flood of business bankruptcies likely in coming months

 

Last updated 4/26/2020 at 3:18pm



JOYCE M. ROSENBERG

AP Business Writer

NEW YORK (AP) — The billions of dollars in coronavirus relief targeted at small businesses may not prevent many of them from ending up in bankruptcy court.

Business filings under Chapter 11 of the federal bankruptcy law rose sharply in March, and attorneys who work with struggling companies are seeing signs that more owners are contemplating the possibility of bankruptcy.

Companies forced to close or curtail business due to government attempts to stop the virus's spread have mounting debts and uncertain prospects for returning to normal operations. Ev...



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