For the second time in four years, Seadrill Limited is bankrupt. The company is the latest in a series of offshore rig firms to seek court protection from creditors following spending cuts by the energy sector in wake of the COVID-19 pandemic.
After more than a century in business, the national discount department store Stein Mart, Inc. has filed for Chapter 11 protection. The coronavirus continues to provide a debilitating headwind towards the retail sector.
Tailored Brands, owner of Men's Warehouse and Jos. A. Bank, filed for bankruptcy following the secular headwinds of declining professional attire, only accelerated by the coronavirus and stay-at-home orders.