Investment banks and other financial advisers are putting the business of fixing troubled companies on the back burner as financial distress stemming from the Covid-19 pandemic diminishes.
Instead, advisory firms like FTI Consulting Inc., Greenhill & Co. and Lazard Ltd. , are turning more focus to blank-check companies; mergers and acquisitions; capital raising; and environmental, social and corporate governance issues.
When the Covid-19 pandemic hit the U.S. last year, it was expected to unleash a wave of financial distress and bankruptcies not seen since the financial crisis. While bankruptcy filings did rise in 2020, they have slowed in recent months and havent been as high as investors and analysts initially predicted.
Restructuring…
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