What bankruptcy looks like in Google Trends

[ergophobe]

I wonder... did he come in and they said, "We're in trouble. We're going to have to lay a lot of people off," and he started with them.

[rcjordan]

UK: Department store Beales warns of collapse risk
https://www.bbc.com/news/business-51083396

One of Britain's oldest department stores.

[rcjordan]

^{That didn't take long.}

Department store chain Beales goes into administration | Business News | Sky News
https://news.sky.com/story/department-store-chain-beales-goes-into-administration-11913306

[ergophobe]

On a somewhat philosophical note... Isn't there a basic structural problem with this thread that tends to make the news look worse than it is?

Imagine that one month, a major retail closes 400 stores that average 20 employees each. That's a headline.

That same month, 8000 people launch small businesses that average 2 employees. There's no headline, but in theory 8,000 extra jobs were created.

Similarly, Oracle might announce 5,000 people getting laid off. That's a headline. But if AGFAM all add 1,000 employees each, that's not a headline. So there is actually stasis, but reporting in the media will only pick up on the layoff.

[DrCool]

>>make the news look worse than it is?

I can totally see that. In the 6 1/2 years I have been my company we have grown from maybe 500 employees in pretty much 1 location to over 5000 in 20+ locations all across the world. But you don't hear about that, you hear about the mall stores that are closing and putting 20 people out of work. And that doesn't include the added jobs in our supply chain.

[rcjordan]

^{153 stores}

Modell's files Chapter 11 bankruptcy
https://nypost.com/2020/03/11/modells-files-chapter-11-bankruptcy/

[ukgimp]

I think there will be more.

[rcjordan]

>more

Here ya go;

The owner of some of the UK's biggest shopping centres has warned it could go bust

Trafford Centre owner Intu warns it may go bust as retail crisis deepens and annual losses surge to £2bn | The Independent
https://www.independent.co.uk/news/business/news/intu-bust-trafford-centre-losses-high-street-crisis-a9397876.html

[rcjordan]

Neiman Marcus weighs bankruptcy amid debts, store closures
https://nypost.com/2020/03/24/neiman-marcus-weighs-bankruptcy-as-debt-store-closures-slam-retailer/

[Travoli]

Unemployment

https://trends.google.com/trends/explore?q=unemployment&geo=US

[rcjordan]

The airline went into voluntary administration on Tuesday with more than Aus$5 billion ($3.2 billion) in debt, becoming the largest carrier so far to buckle under the strain of the COVID-19 outbreak.

Airport seizes Virgin Australia planes to recoup debt
https://techxplore.com/news/2020-04-airport-seizes-virgin-australia-planes.html

[rcjordan]

<+>

It follows reports in the Sunday Telegraph that billionaire Virgin Group boss Sir Richard Branson is seeking a buyer for the airline.


Branson's Virgin Atlantic in virus bailout talks - BBC News
https://www.bbc.com/news/amp/business-52431290

[littleman]

Going back to trends and popping in "unemployment" really puts the magnitude of the current economic crisis into perspective.

[rcjordan]

 J. Crew prepares bankruptcy filing that could come this weekend
https://www.cnbc.com/2020/04/30/coronavirus-j-crew-prepares-bankruptcy-filing-that-could-come-this-weekend.html

[rcjordan]

Hertz Reportedly In Talks With Creditors On How To Avoid Bankruptcy
https://www.motor1.com/news/420025/herts-prepares-for-bankruptcy/amp/