Debt Relief Attorney in Pensacola, FL Informs the Community of Seven Companies that Filed for Bankruptcy This Year

Pensacola, Fla. - A local debt relief attorney in Pensacola, FL is helping their community stay informed by naming seven large companies that filed for bankruptcy in 2020, many of which were forced into the decision as a result of the economic effects of COVID-19.

Earlier this year, the pandemic caused a massive number of businesses to temporarily shut down. Unfortunately, some of these businesses were forced to turn their temporary shutdowns into permanent ones. Especially for establishments that were struggling even before the pandemic arose, there were only so many desperate steps they could take before having to file for bankruptcy. In fact, this was the case for several well-known, big-name companies.

One of these businesses is the auto rental company Hertz, who filed for bankruptcy in May of 2020. Because travel greatly decreased during the shutdown, Hertz began offering cheaper vehicle options. However, travelers were not interested in these cheaper options. People simply weren’t traveling at this time. Lack of business, along with their recent purchase of Dollar Thrifty, forced Hertz into bankruptcy. Another company that filed for bankruptcy this year is Ascena Retail Group. This company owns women’s retail stores, such as Lane Bryant and Ann Taylor. Brick and mortar retailers were among the most affected businesses during the pandemic shutdown, companies like Ascena Retail Group and J.C. Penny were forced into bankruptcy. Many other businesses, such as Frontier Communications, Intelsat, Chesapeake Energy, and McDermott International were also thrust into bankruptcy this year, due to similar struggles.

Having been highly skilled lawyers in Pensacola, FL for over 20 years, Lewis and Jurnovoy understand the importance of an individual staying informed of the events occurring in the business world, no matter what their profession or livelihood may be. Lewis and Jurnovoy strive to help their community in any way they can, as they work hard to best represent their clients and help them gain the optimal results when it comes to filing for bankruptcy. For more information, contact Lewis and Jurnovoy today at (850) 432-9110 or visit their website at www.lewisandjurnovoy.com.