A man walks past a store going out of business on May 5, 2020 in the Brooklyn borough in New York City.
Angela Weiss | AFP | Getty Images
The coronavirus pandemic has pushed many struggling companies over the edge and into bankruptcy.
Stay-at-home orders forced many nonessential businesses to close and weakened demand for all types of goods and services overnight. During the past eight weeks, 36.5 million people have filed for jobless benefits. The slowdown has hit some industries harder than others.
The number of bankruptcy filings has risen sharply, with little revenue coming in, according to data from the American Bankruptcy Institute. The group reported 560 commercial Chapter 11 filings…