NEW YORK, May 11, 2017 /PRNewswire/ -- 2017's first
quarter was grim for retailers, as bankruptcy filings continued to
escalate, with no sign of decreasing in the foreseeable future,
proving the "Amazon Effect" is not a fluke. Energy industry filings
are expected to continue in the second quarter, although at a
slower pace this year, and the healthcare industry may be the next
sector to face a flurry of bankruptcy filings, according
to The Deal, a business unit of TheStreet,
Inc. (NASDAQ: TST).
"Bankruptcy and restructuring attorneys and advisers were busy
in the first quarter as the amount of Chapter 11 filings increased
in each month with the retail industry leading the charge on
petitions," said Kirk O'Neil,
bankruptcy reporter at The Deal. "The rising trend of retail
Chapter 11 filings is expected to continue through the year as oil
and gas industry filings begin to level off."
The Deal's exclusive ranking covers the
top U.S. firms involved in bankruptcy cases
filed between January 1 and March 31, 2017.
Some highlights from the report:
- Latham & Watkins LLP claimed the top spot for
bankruptcy law firms by volume, with $19.9 billion in
liabilities. Skadden, Arps, Slate, Meagher & Flom LLP
followed, with $16.5 billion in liabilities. Weil,
Gotshal & Manges LLP ranked third, with just over $15
billion in liabilities. Duane Morris LLP ranked fourth
with $13.1 billion in liabilities and Reed Smith LLP
ranked fifth with $12.2 billion in liabilities.
- For investment banks by volume, Houlihan Lokey Inc. remained in
the top spot, with $12.7 billion in liabilities. PJT
Partners Inc. followed in second, with $9.9 billion in
liabilities. Centerview Partners LLC was third, with $6.4
billion in liabilities. Evercore Partners Inc. ranked fourth,
with $3.6 billion in liabilities. Perella Weinberg
Partners LP rounded up the top five with $3.2 billion in
liabilities.
- FTI Consulting Inc. claimed the top spot for crisis management
firms by volume with $18.2 billion. AlixPartners LLP
followed with $17.6 billion. Zolfo Cooper LLC came in
third with $7.5 billion. Opportune LLP came in fourth
with $4.4 billion. Alvarez & Marsal LLC finished in
fifth with $2.3 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 Jan. 1 and March 31,
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), which is
celebrating its 20th year of producing unbiased
business news and market analysis; BoardEx (www.boardex.com), the
leading 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
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/chapter-11-filings-continue-to-soar-for-retailers-healthcare-may-be-next-300456052.html
SOURCE TheStreet, Inc.