latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/the-number-of-us-bankruptcies-passes-the-500-mark-as-coronavirus-takes-toll-60607609 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

US bankruptcies surpass 500 mark as coronavirus takes toll

Climate Change: Energy Transition Risks and Opportunities for European Public Companies’ Creditworthiness

AVIA: Building The Case For Satellite 5G

Fund Financing Through a Credit Lens Credit Risk Factors for Alternative Investment Funds (AIFs)

Case Study: Leveraging a Comprehensive Alternative Investment Funds (AIFs) Scorecard

US bankruptcies surpass 500 mark as coronavirus takes toll

Corporate bankruptcies in the U.S. continue to grow amid the coronavirus pandemic as 22 new companies added their names to a growing list of bankruptcies in 2020 in the last two weeks, an S&P Global Market Intelligence analysis shows.

A total of 509 companies have gone bankrupt this year as of Oct. 4, exceeding the number of filings during any comparable period since 2010.

Market Intelligence's analysis is limited to public companies or private companies with public debt where either assets or liabilities at the time of the bankruptcy filing are at least $2 million. Private companies without public debt must report at least $10 million in either assets or liabilities at the time of filing.

Companies that entered bankruptcy proceedings between Sept. 21 and Oct. 4 include independent oil and gas producer Oasis Petroleum Inc.; Bouchard Transportation Co. Inc., which operates a fleet of barges and tugs; oilfield services company FTS International Inc.; film distribution company Aviron Pictures LLC; oil and gas company Lonestar Resources US Inc.; and King Mountain Tobacco Co. Inc., which makes cigarettes. Only three companies — Northwest Regional ASC LLC, Reata Properties LP and Continuity Logic LLC — had involuntary petitions filed against them during the period.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.

Oasis, which filed a Chapter 11 petition Sept. 30, was the only company that claimed more than $1 billion in liabilities in its bankruptcy filing during the period. The company signed a restructuring support agreement with all the lenders in its revolving credit line and holders of 52% of its bonds on a prepackaged restructuring plan through which it aims to cut its debt by $1.8 billion.

Texas-based Lonestar on Sept. 30 filed for Chapter 11 protection, listing $560 million in total assets and $626.2 million in total liabilities.

Meanwhile, 54 companies went bankrupt in September, matching the number of filings in August.

SNL Image