Attitudes towards business failures changing for better

Greater willingness now for creditors to work with distressed firms in restructuring.

Robinsons is closing down its last two stores here and owes at least $31.7 million to more than 440 creditors. ST PHOTO: KEVIN LIM
New: Gift this subscriber-only story to your friends and family

SINGAPORE - The impact of the Covid-19 pandemic on economies and companies is well documented.

Besides causing massive job losses around the world, it has hit the bottom line and balance sheet of companies, causing mounting corporate debt and other liabilities. Insolvency cases and corporate distress have risen to their highest levels since the 1997 Asian financial crisis.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.