U.S. bankruptcy filings hit 35-year low thanks to government pandemic aid

WASHINGTON (Reuters) - U.S. bankruptcy filings for 2020 hit their lowest level since 1986 as a flood of government support programs offset at least temporarily the full brunt of the coronavirus pandemic and a related recession, Epiq AACER reported on Friday.

The firm’s compilation of bankruptcy cases showed the Chapter 11 filings used to reorganize larger businesses still jumped 29% in 2020 to 7,128, compared to 5,158 in 2019, a tally that included major retailers like J.C. Penney driven under by the biggest economic downturn in a century...
   ...more

RSK: This just doesn`t seem right, but I guess if you take out retail and hospitality, it may have been a good year.

Ken Notes: Two notes, this may only be a deferral in the market and second many of the properties are owned outright, with no bank involvement it the the owners that are taking it on the chin. No banks, no bankruptcy...