14 Bankruptcy Filings Chalked Up to COVID-19

The COVID-19 coronavirus outbreak has sent global markets into bear territory and economies into recession. And as the pandemic stretches on, it's inducing a growing number of bankruptcy filings.

Though, in most cases, COVID-19 has simply acted as the straw that broke the camel's back.

Consider the retail industry, which has endured a particularly difficult past two months. Most "non-essential" retailers are feeling the pain, However, those that were already overloaded with debt, as well as suffering from long-term declines amid changing tastes and Americans' swelling adoption of online shopping, have been pushed over the edge.

But it's not just retail. COVID-19 is forcing companies across several industries to seek out Chapter 11 bankruptcy protection and other types of relief. Consider the energy sector, where the oil declines of 2014-16 weakened a number of exploration and production companies, only to have coronavirus-sparked demand slumps finish off the job. Financially wobbly companies in the restaurant and entertainment industries are starting to collapse, too.

Just remember: Bankruptcy filings aren't always "the end." In many cases, Chapter 11 reorganizations and other maneuvers help companies shed significant amounts of debt, allowing them to continue operating as they try to find a new way forward. That said, COVID-19 is threatening to knock a few well-known brand names out of existence entirely.

Here are 14 companies whose recent bankruptcy filings can be chalked up to the COVID-19 outbreak. In most cases, these businesses were already showing signs of financial duress - the coronavirus merely delivered the coup de grâce.

SEE ALSO: 21 Stocks Warren Buffett Is Selling (And 1 He Bought)

Read more: https://www.kiplinger.com/slideshow/investing/T052-S001-bankruptcy-filings-chalked-up-to-covid-19/index.html

8 Benefits for Healthcare Workers, First Responders in the HEROES Act

While the latest stimulus bill being batted around Congress, the Health and Economic Omnibus Emergency Solutions (HEROES) Act, is stalled in the Republican-controlled Senate, the real heroes battling coronavirus on the front lines continue to fight the good fight.

[EMBED TYPE=WIDGET ID=927]

And it's here where inaction -- on the bill, which was passed by the Democratic-controlled House of Representative -- so far fails the health care workers and first responders (law enforcement officers, firefighters, paramedics, and emergency medical technicians) it is designed, in part, to help. But just how is the $3 trillion HEROES Act planning to benefit the front-line fighters? Part of the bill includes a $200 billion Heroes' fund "to ensure that essential workers who have risked their lives working during the pandemic receive hazard pay."

I have skin in this game. My daughter is a registered nurse whose job, in part, includes taking the temperature of anyone coming to the emergency room at the hospital where she works. So you can be darn sure I'm keeping an eye on the HEROES Act for my hero, and other health care workers and first responders. Here's some of what the HEROES Act offers them.

SEE ALSO: 5 HEROES Act Provisions with a Good Chance of Becoming Law

Read more: https://www.kiplinger.com/slideshow/saving/T043-S001-heroes-act-aids-healthcare-workers-first-responder/index.html

14 Must-Have Items for Your Home Emergency Kit

Emergency season got off to an early start in 2020. Though the Atlantic Hurricane season officially starts on June 1, the first named storm of the season -- Tropical Storm Arthur -- started forming off the U.S. East Coast on May 17. This April set a record for the number of tornadoes recorded in the U.S., with 351 twisters (and 40 fatalities). And, of course, there's the COVID-19 pandemic, which is both an emergency of its own and complicates responses to traditional troubles like storms, wildfire, earthquakes.

Now more than ever, you need to be prepared to survive on your own in the case of disaster -- days without power, food or water from the tap. And even as much of the country begins to emerge from coronavirus lockdown, don't rule out new waves of infection that could send people back inside.

Time to assemble a home emergency kit that covers all of these scenarios. Have a look even if you think you're fully prepped. Guidelines change, new technologies emerge -- and some of your stash may have deteriorated.

SEE ALSO: The Most Expensive Natural Disasters in U.S. History

Read more: https://www.kiplinger.com/slideshow/real-estate/T065-S001-must-have-items-for-your-home-emergency-kit/index.html

Page 2 of 3

National Weather

Click on Map for Forecast

The Opinion Poll

Yes, they should be - 0%
No, they should not be - 100%
Unsure - 0%

advertisement

advertisement