Yes. August 15, according to foreign media reports, there have been more than 400 large enterprises in the United States so far this year declared bankruptcy, which is the worst data in a decade. The main reason for this is the impact of the epidemic, with industries suffering billions of dollars in losses. Analysts see it as an economic earthquake with no sign of reprieve in sight.
S&P Global Market Intelligence noted in a report that "a large number of sectors were affected by bankruptcies in 2020 against the backdrop of the new Crown Pneumonia epidemic," according to an Aug. 13 report by EFE in New York. However, consumer-focused sectors have suffered particularly severe damage." The report includes publicly traded companies with assets or liabilities of more than US$2 million (about Rs6.94 per US dollar - our note) and privately held companies with more than US$10 million.
The report said that cumulatively, 424 large businesses had gone bankrupt as of earlier this week, "more than have been dealt with in this comparable period since 2010," according to the firm's analysts, Tayeba Irum and Chris Hudgins, as a result of the sharp contraction of the economy.
Expanded Information
Non-Essential Consumer Goods Sectors Hardest Hit
Worst hit is the non-essential consumer goods sector. ***More than 100 major companies went bankrupt, including 20 long-established retailers such as Booker Brothers, the venerable U.S. apparel company; Lord Taylor Department Stores, which owns the oldest major department store; and popular brands such as Crewe Clothing Group and Ann Taylor.
The most visually appealing bankrupt retailer may have to be Neiman Marcus Corp.'s high-end stores. A little more than a year ago, the company opened a 20,000-square-foot store in the center of New York's exclusive Hudson Town Square business district. But after the outbreak caused downtime, the company decided to leave it unused.
Other "victims" of the wave belong to the restaurant industry, such as franchisee NPC International, which operates Pizza Hut and Wendy's fast food. which has been affected by store closures and a lack of tourists.
Xinhua News Agency client - U.S. bankruptcies largest in a decade: an economic earthquake with no signs of relief