In a recent Bloomberg article, Disputes Consulting Managing Director Kelly Conlan discussed the ongoing impact of the pandemic on the travel and retail sector, “The next wave of filings will come from the companies which continue to be impacted by the pandemic, even after a vaccine is distributed.”
According to Kelly, providers of travel products and services are most at risk to file for bankruptcy as work-from-home measures are extended and clients transition to video communication. “Huge industries that relied on business travel won’t return to pre-Covid levels,” Kelly said, citing hotels and airlines as examples. “The whole system as we know it is beginning to contract. The usual end-of-the-year Christmas miracle isn’t happening this year.”
For retailers, measures including lease renegotiations in hopes of restructuring debt to avoid filing for bankruptcy are “band-aids to get through year’s end that will only last until early next year when a robust number of bankruptcy filings will come,” Kelly said.
Read more here.
Governance, Risk, Investigations and Disputes
Combined Duff & Phelps and Kroll disputes, investigations, cyber, business intelligence, cross-border restructuring and other advisory.
Providing expert analysis and testimony in the context of litigation, arbitration and other commercial disputes.
Global Restructuring Advisory
Advising companies, financial sponsors and other stakeholders involved in challenging situations and distressed transactions.
Corporate Restructuring and Debt Advisory
Guidance for management teams to optimize business outcomes.
Assessing debtor’s solvency across a wide range of contexts.
Commercial Disputes and Litigation
Industry and technical insights to win disputes related to contractual, fiduciary or related obligations.
Duff & Phelps Expands Presence With New Gibraltar Office
Duff & Phelps Announces CEO Transition
Duff & Phelps Expands Disputes Expert Advisory Services With Acquisition of Blackrock Expert Services Group
Duff & Phelps Expands Asia and Caribbean Restructuring Offering With Acquisition of Borrelli Walsh