COVID-19 Considerations from Our Bankruptcy & Restructuring Experts

As governments impose restrictions on travel and more and more people are self-isolating and taking steps towards social distancing, the entire travel industry, the live entertainment industry and businesses with bricks and mortar presences, like restaurants and retail stores, expect to experience an immediate drop in revenue. 

Similarly, other businesses face challenges due to reduced employee capacity, reduced consumption and supply chain disruptions (with some estimating that 90% of businesses in China were impacted by the initial outbreak and that more than 50,000 companies around the world have at least one direct supplier in the region).  At the same time, the recent oil price shock has created significant challenges for businesses involved in the oil & gas industry, including both producers and service companies.