NEW YORK, Oct. 2, 2017 /PRNewswire/ -- Bankruptcy decreased
in the third quarter as troubled retail companies avoided filing
before the holidays, with the exception of Toys "R" Us, which filed
for bankruptcy on September 18 with
more than $7 billion in liabilities.,
according to The Deal, a business unit of TheStreet,
Inc. (NASDAQ: TST).
In the third quarter, Weil, Gotshal & Manges was the top
ranked law firm for bankruptcy filings by volume. Houlihan Lokey continued to dominate among
investment banks, and FTI Consulting claimed the top spot for
crisis management firms by volume.
"The pace of retail Chapter 11 filings slowed during the third
quarter, with the notable exception of Toys "R" Us, which entered
bankruptcy with more than $7 billion
in liabilities," said Stephanie Gleason, senior writer at The
Deal. "The retailers that can will likely continue to try to stave
off filing for bankruptcy through the holiday shopping season."
The Deal's exclusive League Table ranking covers the
top U.S. firms involved in bankruptcy cases
filed between January 1 and September 15, 2017.
Some highlights from the report:
- Weil, Gotshal & Manges LLP claimed the top spot
for bankruptcy law firms by volume, with $103.6
billion in liabilities. Orrick, Herrington &
Sutcliffe LLP followed, with $103.4 billion in
liabilities. Milbank, Tweed, Hadley, & McCloy
LLP ranked third, with just over $99 billion in
liabilities.
- For investment banks by volume, Houlihan Lokey
Inc. remained in the top spot, with $106.5
billion in liabilities. Lazard Ltd. followed in second,
with $39.3 billion in liabilities. Moelis & Co.
LLC was third, with $15.8 billion in liabilities.
- FTI Consulting Inc. claimed the top spot for crisis
management firms by volume with just over $105
billion. Zolfo Cooper LLC followed with $81.4
billion. Goldin Associates LLC came in third with $75.8
billion.
The full article is available online, or learn more
about The Deal's Bankruptcy League Tables by
visiting http://www.thedeal.com/league-tables/bankruptcy/.
About The Deal's Bankruptcy League Tables
The
Deal's Bankruptcy League Tables are comprised of advisory
assignments on business petitions with liabilities of at
least $25 million, filed
in U.S. courts, between January 1 and September 15,
2017.
About The Deal
The Deal (www.thedeal.com)
provides actionable, intraday coverage of mergers, acquisitions and
all other changes in corporate control to institutional investors,
private equity, hedge funds and the firms that serve them. The Deal
is a business unit of TheStreet, Inc. (NASDAQ:
TST, www.t.st), a leading financial news and information
provider. Other business units
include TheStreet (www.thestreet.com), an unbiased
source of business news and market analysis for investors; BoardEx
( www.boardex.com), a relationship mapping service of
corporate directors and officers; and RateWatch
(www.rate-watch.com), which supplies rate and fee data from banks
and credit unions across the U.S.
Contact: Jon Kostakopoulos, (212) 321-5561,
Jon.Kostakopoulos at thestreet.com
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SOURCE TheStreet, Inc.