At the beginning of 2020, the U.S. economy was strong. Yet, as the COVID-19 pandemic hit, businesses were called to make concessions to reduce costs and remain viable. Decreased revenue and profitability were the primary concerns for the majority of organizations, especially those in consumer-facing industries like retail, dining, travel, entertainment and healthcare — leading to many in-court restructurings. As the country begins to emerge from pandemic-related shutdowns, consumer demand for these services will gradually increase.
Huron expert, John DiDonato, contributed to a Q&A piece in Financier Worldwide related to bankruptcy and restructuring in the United States, answering questions like:
- How would you describe the impact of COVID-19 on corporate bankruptcies and insolvencies in the U.S. over the last 12-18 months?
- In your experience, which sectors seem to be demonstrating structural weaknesses leading to more structuring efforts?
- How would you describe recent distressed mergers and acquisitions activity?
- Looking ahead, what developments do you expect to see in restructuring and bankruptcy processes in the coming months?
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