Restructuring wave to build over summer

摘要

Restructuring advisers are helping companies confront emergency liquidity problems provoked by the coronavirus, but only expect a wave of defaults and debt restmcturings later in the year when it becomes clearer what businesses are sustainable and those that are vulnerable in the long run. "There will be an initial wave of companies affected by the situation but there will also be a significant wave later this year or next year, similar in timing to what happened after Lehman Brothers failed in 2008, when we saw defaults spike only in mid-2009," said Justin Holland, managing director at DC Advisory.