Tampa Bay Attorneys Say Coronavirus Could Lead to More Bankruptcies Than The Great Recession
Partner Noel Boeke was cited in a Tampa Bay Business Journal article discussing the likelihood of increased bankruptcy filings as a result of COVID-19. While filings for Tampa were down in March and will likely be down in April, the impact of the pandemic is expected to hit in about six months. Whenever the peak comes, the article indicates that there would be more bankruptcy filings in response to COVID-19 than to the Great Recession.
"I think that banks are being understanding, kicking the can down the road, giving them time and forbearance, but there will be a wave of distress coming down the road." Mr. Boeke said.