Five new companies have filed for Chapter 11 Bankruptcy or defaulted on loans during the week of June 8 - June 12, 2020. Additionally, credit issuers lowered the ratings for three of the five companies. The majority of these companies are within the Consumer Discretionary sector. This is the first week since May 18th that defaults took place in the Consumer Staples and Materials sectors.
Sources: S&P, Moody's, Fox news, Press release
READ MORE: New Chapter 11 Filings, Disclosures: June 1 – June 5, 2020
Jason Industries Inc. announced that the company intends to file for voluntary petitions for reorganization under the Chapter 11 Bankruptcy Code. Accordingly, S&P lowered the issuer credit rating of the company to D.
Party City Holdings Inc. announced on May ...