More U.S. companies have sought bankruptcy protection during the last two days than in the prior two weeks combined, data compiled by Bloomberg show. The seven filings since Sunday exceeds the month’s five through June 13, which was relatively light for companies seeking shelter from creditors. The chapter 11 spree was a mix of consumer names like 24 Hour Fitness Worldwide Inc. and Pyxus International Inc., plus energy, health care and two new software filings. Skillsoft Corp.’s chapter 11 makes this a record year for software bankruptcies, with four cases so far. Technology overall is having its busiest year since 2009. This week’s filings pushed the year’s bankruptcy total to 111, the most since 2009 for the first six months of a year, data compiled by Bloomberg show. Filings from the consumer cyclical sector total 32 year-to-date, the most for any comparable period since 2009, when there were 41. Consumer non-cyclical filings total 26 — also the highest since 2009 — and the sector remains under pressure from lockdowns that have crushed demand. The energy sector is the second biggest contributor to this year’s bankruptcy surge. Chesapeake Energy Corp. is preparing a potential filing that could hand control to senior lenders. Meanwhile, California Resources Corp. got an extension until June 30 to make interest payments originally due May 29.
