DF Saskatchewan, Manitoba, and the Northwest Territories.Stickers will still be required for farm vehicles and commercial vehicles that travel between regions as part of international agreements.This report by The Canadian Press was first published Dec. 7, 2020. filed on April 18 as the company revealed it had $800 million in previously undisclosed losses. Indeed, Douglas Hoyes, a licensed insolvency trustee and co-founder of Toronto-based Hoyes, Michalos & Associates, predicts that when the figures come in for April, personal bankruptcies will likely be down about 50 per cent from last year. And we ask ourselves what's going on?". Mood Media, which provides hold music on calls and background music in stores to retailers, filed on July 30 to erase $404 million of debt. Rural hospital chain Quorum Health filed a prepackaged chapter 11 plan on April 7 to reduce its debt by $500 million. It aims to reduce its debt by $700 million and continue normal operations. December 3, 2020. and said it would close four of its stores. . Pier 1, a home furniture chain with close to 1,000 locations at the beginning of the store, began a Chapter 11 reorganization on February 17, before the weight of the pandemic even reached the U.S. Shares were trading at more than $460 in 2013 before beginning a steep and steady decline. The coronavirus pandemic has accelerated the demise of companies that were already in trouble as Americans (and their dollars) stay home amid lockdowns and economic shutdowns. Consumer bankruptcies in Alberta decreased by 41.9%, from 461 in September 2019 to 268 in September 2020. and announced plans to close an undisclosed number of its 2,800 stores. Thai carrier Nok Airlines filed on July 30, as the Bangkok Post reported that it had to shut down its international routes due to Covid-19 and is operating just 30% of its pre-pandemic schedule. LONDON, Ontario (PRWEB) September 21, 2020. on June 26 with more than $5 billion in debt. Its reorganization plan is expected to reduce its sizable debt load by $10 billion. With assets of roughly $16.2 billion and liabilities of $11.8 billion, the filing represents the fourth-largest bankruptcy by assets so far in 2020, above that of Intelsat. to help the Irish manufacturer deal with $100 million worth of asbestos-related litigation. December 11, 2020, 7:15 a.m. ... causing record death totals in recent days.India and Brazil are the only two other countries that have reported more than 3 million cases of COVID-19. , an Ohio-based glass tableware manufacturer for restaurants and bars that no longer needed new drinking glasses while they were closed. Research from investment bank Jefferies shows that large-firm bankruptcies shot 244% higher year-over-year in the July-August period, and that large-firm bankruptcies in 2020 … J.Hilburn, a Dallas-based luxury menswear retailer rooted in one-on-one contact with customers for its custom-made suits and shirts, filed on May 4. on January 21 to eliminate $4.6 billion in debt. Tailored Brands, the parent company of menswear retailers Men’s Wearhouse and Jos. "The question is, when will it all come crashing down?". Advantage Rent A Car filed on May 26, four days after its competitor Hertz, with global travel still ground to a halt. , which pioneered the practice of fracking in the oil and gas industry. The Oil Industry Bankruptcy Wave Has Only Just Begun The industry, which has already seen a few notable bankruptcies, will probably witness many more in the coming months. and announced that it will permanently close more than 100 of its roughly 400 gyms, citing the “disproportionate impact” of the coronavirus pandemic on the fitness industry. , which provides hold music on calls and background music in stores to retailers. retailers have filed for bankruptcy in 2020 so far: Select a retailer to learn more about their bankruptcy. The previous year saw a number of well-known national and regional retailers file for both Chapter 7 and Chapter 11 bankruptcy. It's partly because few businesses are putting pressure on customers to pay their debts. Canadian bankruptcies laws. Medical device manufacturer Endologix, which offers products for aortic disorders, filed on July 6 and announced it was being bought and taken private by Deerfield Partners. The luxury department store managed to restructure its massive debt outside of bankruptcy proceedings last year, but that was not the case in … , weeks after it announced it was laying off 20% of its corporate workforce and closing up to 500 stores. Apex Parks Group, which had to close its 12 entertainment centers and water parks due to the pandemic, filed for a Chapter 11 reorganization on April 8. The number of Alberta business bankruptcies in October 2020 decreased by 26.7% from the same period a year ago, from 15 to 11. So the banks are holding back on retail business as well. to delever its balance sheet by $250 million. and agreed to sell its businesses in Europe and Asia. Learn more. January 2020; February 2020; March 2020; April 2020; May 2020; June 2020; July 2020; August 2020; September 2020; October 2020; Insolvency Statistics in Canada—Quarterly Reports. for the second time in the last year as it struggled to stay afloat with its stores closed. True Religion, a designer jeans retailer with locations of its own in 26 states and a presence in other major department stores, filed on April 13 for the second time in less than three years. J.Crew was the first big American retail domino to fall amid the pandemic, filing on May 4 to convert about $1.7 billion of debt to equity.
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