The coronavirus has slammed global economies and sending company revenues plunging.
But the chaos is an opportunity for a group of advisers, traders, and investors who have been waiting years for a big shakeout.
Retailers including JCPenney and Neiman Marcus have filed for Chapter 11 bankruptcy, along with energy names like Chesapeake Energy and Whiting Petroleum. The parent company of Chuck E. Cheese, the family fun center known for its playgrounds and skee-ball games, has also filed for bankruptcy protection.
As the economic fallout spreads, more opportunities are coming to the lawyers and bankers who advise troubled companies. There’s also likely to be more flow for Wall Street’s distressed-debt desks, which make markets in bonds and loans trading at discounted prices, as well as bankruptcy claims, litigation events, and other more complex and special situations.
Business Insider has spent the recent months cataloging the power players who are set for a big boost. Here are the firms and people you need to know.