Retail CEOs Received Bonuses even as COVID Forced Companies into Bankruptcy

Retailers have suffered greatly in the U.S. from the COVID-19 pandemic, with many filing for bankruptcy protections. But some of the largest retail companies first provided millions of dollars in corporate bonuses in the weeks and days before they filed.

From mid May until January 2021, The Buttonwood Tree's tracking of larger corporations to file for bankruptcy or default on loans show just how much COVID-19 affected the Consumer Discretionary sector. Of the 157 companies to file, nearly half were Consumer Discretionary companies, which is home to retailers.

Further, more than 12% of those Consumer Discretionary companies to file during Q3 2020 were retail and wholesale companies.

While clothing retailers have received the most news coverage, they are not the only ones to enga...

Login In

or

Register now for free access

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments