Wall Street’s undertakers prepare for a surge in corporate bankruptcies

There’s a saying that whenever the Federal Reserve taps the brakes, someone flies through the window. Experts in cleaning shards of glass and attending to the injured are much in demand as Wall Street gears up for a surge in corporate crashes.

The world of fixing up ailing companies or helping them through bankruptcy court has been moribund for many years, thanks to the exceptionally strong pre-pandemic economy and rock-bottom interest rates giving struggling enterprises room to restructure debts.

Business bankruptcies fell by a third last year, to 14,347, according to figures from the Administrative Office of the U.S. Courts, the fourth decline in five years. A flurry

→ Continue reading at Crain's New York Business

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