The COVID-19-induced shutdown in the spring wreaked havoc with the economy. The Atlanta Federal Reserve recently projected GDP may have shrunk by 52.9 percent in the second quarter. And with the virus far from under control, many states have had to pause or roll back phased reopenings.
Those blows have proven to be too much for many companies. Scores of firms have now filed for Chapter 11 restructuring. The 20 largest bankruptices all include liabilities of more than $1 billion, topped by The Hertz. Corp. with more than $24 billion in liabilities at the time of its filing.
Some firms plan to restructure, while others are undergoing liquidation processes. In the following gallery, which is dominated by retailers, we identify the bankruptcies that could potentially have the largest impact on landlords and the commercial real estate industry in general.
This gallery includes bankruptcies filed between April 15, 2020 and August 25, 2020. It was originally published on July 20, 2020, and updated on August 25, 2020.