Wave of COVID-19 bankruptcies poses next threat to US economy

Wave of COVID-19 bankruptcies poses next threat to US economy
Wave of COVID-19 bankruptcies poses next threat to US economy

New York (AFP) – Larger companies have generally survived the initial blow from the coronavirus crisis, but still face existential challenges to get through what will probably be a long and grinding recovery.Since COVID-19 shuttered much of the global economy, airlines, major retail chains, oil companies and other hard-hit businesses have been able to tap bank facilities and public debt markets for the funds they need to keep paying the bills and stay afloat.But many firms now bleeding cash are in for a tough ride until the economy fully rebounds, which likely will come only after a vaccine is…

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