Will bankruptcy boom be boon to Delaware firms?
Some of America’s biggest corporate names have filed for bankruptcy in Delaware over the last 30 years, earning it a reputation as the place for big business to get a fresh start.
With the COVID-19 pandemic wreaking havoc on the American economy, many companies that had been treading water are suddenly looking to restructure their debts or fold altogether. The rental car giant Hertz, nutritional supplement retailer GNC, Madison Avenue men’s clothier Brooks Brothers, fitness center franchise 24-Hour Fitness, drug treatment provider American Addiction Centers, and contemporary circus Cirque du Soleil are among the debtors who have sent lawyers to the Delaware Bankruptcy Court on Market Street in recent months.
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