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Red Tide Rising
Please note: This item is from our archives and was published in 2007. It is provided for historical reference. The content may be out of date and links may no longer function.
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Red Tide Rising
T he next big wave of bankruptcies is on the horizon, say attorneys, financial advisers, investment bankers and other restructuring professionals.
According to a survey by Dow Jones & Co.’s Daily Bankruptcy Review and the American Bankruptcy Institute, 82% predicted the next major group of corporate restructurings would hit by the end of 2007.
The majority of the restructuring experts said the industries most likely to be affected are real estate/construction, retail, airlines, manufacturing and transportation.
The most likely trigger: interest rates. Falling home prices, higher commodity prices, global competition and a bear stock market also were expected to contribute.
Source: American Bankruptcy Institute, www.abiworld.org .
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