Drowning in debt: TMT sector braces for wave of Chapter 11 filings
Since 1Q23, the number of bankruptcy applications from TMT firms has been relatively moderate. However, according to Likely-To-Distress (LTD) rankings powered by Debtwire’s NextGen data, there are currently 23 companies in distress and some 57 more in the stressed universe, all facing issues with liquidity, revenue and/or debt servicing.