COVID-19 will trigger a wave of healthcare bankruptcies in 2020, but the pandemic had the opposite effect in the first quarter. That’s because the economic turmoil in March likely threw a wrench in the exit strategies of companies that had previously planned to file last month. And since most of the damage hit in mid-March when many stay-at-home orders took effect, March 31 was too soon for most other filings. “If there was no COVID, I think the number of bankruptcies would be a little higher,” said Jeremy Johnson, a shareholder with the law firm Polsinelli who handles bankruptcies, said of the first quarter filings. “But then we know it’s going to go up.”
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Source: https://www.modernhealthcare.com/finance/covid-19-pandemic-likely-put-some-bankruptcies-hold