By Davide Scigliuzzo, Josh Saul, Shannon D. Harrington, Claire Boston and Demetrios Pogkas
Retailers, airlines, restaurants. (click here) But also oil producers, a chain of donut shops in Portland, Oregon, and one of the largest crane services companies in North America. These are some of the more than 200 companies that declared bankruptcy in the U.S. this year and blamed Covid-19 in part for their demise.
Many were in deep financial trouble even before governors ordered non-essential businesses shut to help contain the spread of the virus. Most will try to reorganize and emerge from court smaller and less-indebted. The hardest hit, however, are selling off prized assets and some are closing for good.
They include plenty of big, iconic names. California Pizza Kitchen and Brooks brothers and now Stein Mart, the discount retailer that’s weighing shutting all its locations. The vast bulk, though, are small and medium-sized businesses scattered across the country. Their downfall might not normally garner much attention, but it does underscore the full extent of the damage Covid-19 has inflicted on the economy.
The list compiled for this story is based on court records, statements or interviews in which business owners explicitly linked the virus to their filing. It is only a snapshot of the thousands of corporate entities that have landed in bankruptcy court since the pandemic took hold in March. And it doesn’t capture the countless businesses that closed shop permanently without seeking protection in court....
