James D. Newell, shareholder and chair of Buchanan's Financial Institutions practice, is quoted in a Pittsburgh Business Times article, "'It's going to be a tidal wave' — PPP delays bankruptcy filings, acceleration expected later this year" commenting on the timing of Covid-19 related business bankruptcies.
"Borrowers and their lenders have been, in many instances, working together to try and get through this time period," Newell said. "But at some point — I'm going to speculate mid to late summer — I think we'll see a spike. Companies have benefited from the SBA programs and interaction with lenders but, at some point, we'll all need to deal with this. If I were to crystal ball it, it's going to be summer into fall and beyond."
Originally published 11 May 2020
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
