Insights
Brian Bisignani Discusses Outlook for Bankruptcies with the Central Penn Business Journal
In the September 10, 2020 Central Penn Business Journal article, "Bankruptcy filings are down over last year, but a wave is expected if the lockdown continues," Brian W. Bisignani discusses the bankruptcy outlook for businesses and individuals in the current economic climate and how it is likely to be impacted by the continued COVID-19 pandemic.
Mr. Bisignani notes:
"Many industries are under extreme stress, especially those dealing with hospitality, retail, various types of service businesses, manufacturing, commercial real estate, and transportation. It is not just big companies or small companies, and it is not simply one geographic region, but a broad cross-section of companies and throughout the country."
“Some of these companies are presently adapting and will successfully adapt to the new situation, while others will not and will have no alternative but to file for bankruptcy protection. Those that are well-capitalized and well managed by competent professionals will withstand the crisis much more readily than those which are not."