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New York is not alone it seems: As Bloomberg adds, Judge Brendan Shannon from Delaware said he has also seen an uptick in Chapter 11s and Chapter 15s, though not as marked as in New York. Shannon also sees trend in retail and energy sector bankruptcies continuing, based on current cases.
The culprit? Take one guess:
“The report is that for at least a lot of retailers, it is certainly a difficult, if not flat out impossible environment to operate in,” Shannon said. “We do see more of those cases likely on the horizon.”