Companies filing for bankruptcy: A new normal in the age of coronavirus

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Similar to the way the coronavirus attacks people, the most vulnerable companies are those with preexisting conditions. With the global economy thrashed by the ongoing pandemic, countless companies are now treading in bankruptcy waters. And similar to the way the coronavirus attacks people, the most vulnerable companies are those with preexisting conditions. As the dam breaks and bankruptcy filings start to flood in, the first casualties are those companies with underlying poor health, although many others are sure to follow. Read Full Story

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People are starting to declare bankruptcy from coronavirus—but it’s often impossible to do while distancing

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Upsolve, a tool that helps people declare bankruptcy, is starting to see its first cases due to the coronavirus crisis. But most states don’t let people file electronically—so they still need to go to the courthouse to get relief. As unemployment claims soar because of the coronavirus—especially in the service industry, and in other jobs where working remotely is impossible— Upsolve , a startup nonprofit that offers a free online tool to help people declare bankruptcy, is beginning to see its first users citing the coronavirus as the reason for their visit. Read Full Story

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