The CEO of a Silicon Valley-based restructuring firm says his business is up 300%, as the pandemic pushes struggling startups to the brink
Firms that help to restructure or wind down distressed startups and other companies are seeing a big pick-up in business.
Sherwood isn't the only restructuring firm seeing a surge in business.
An ABC is an alternative to bankruptcy in which a struggling company can sell off its assets or wind down its operations while avoiding a costly and contentious court process.
With investors unwilling to sink more money into many struggling startups, those startups and their investors don't have many options, he said.
Both Pichinson and Couch are hearing serious concerns from people in their networks about the economy deteriorating further thanks to such things.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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