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Unless there is a rapid economic recovery, more retailers are going to go the way of J. C. Penney, Pier 1 Imports, Neiman Marcus and J.Crew. That is: bankruptcy.
Property development represents about 30% of China’s GDP. Ongoing defaults could eventually convert into bankruptcy filings that would shake up the industry - and subsequently rock markets in the West.
In a pandemic period when major public company bankruptcies are hitting hard daily, reliance on payment performance and/or financial statement analysis provides a whole new slew of dangers.
Deep cracks are surfacing in global corporate debt markets. The timing of corporate bankruptcies is always difficult to predict, yet FRISK® score trends show that the odds of a bankruptcy wave have measurably increased.