Bankruptcy becomes America's growth industryFrom The Times
March 10, 2009
By: Michael Herman
Lawyers who specialise in representing failed businesses are a hot commodity
Law firms across the United States may be dismissing partners and staff, cutting bonuses and freezing salaries, but every cloud has a silver lining: experienced bankruptcy and restructuring lawyers are hotter than ever as the number of corporate failures surges.
According to BankruptcyData.com in January and February this year 36 publicly traded companies filed for bankruptcy in the US, up from 17 last year and 11 in 2007. The companies involved were also larger, with a combined value of $66.5 billion, compared with $10.6 billion last year.
According to BankruptcyData.com in January and February this year 36 publicly traded companies filed for bankruptcy in the US, up from 17 last year and 11 in 2007. The companies involved were also larger, with a combined value of $66.5 billion, compared with $10.6 billion last year.
Posted by: Christina Dove
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ReplyDeleteWow, I can't believe the jump in the number of companies that filed for bankruptcy from last year to this year. Seventeen companies is such a large increase from one year to the next.
ReplyDelete-Lindsey Connell