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...seeing companies across a wide variety of sectors that are struggling," says Sam Rovit, who heads up Bain Corporate Renewal, the optimistically named restructuring division of Bain & Company. If the credit squeeze doesn't loosen up quickly, he expects a "tidal wave of bankruptcies among large companies...
...companies that have loans that are coming due in the next few months and need to refinance, the continued credit crunch could mean they will be forced to file for bankruptcy or shut down. Bain's Rovit estimates that there will be 75 bankruptcies this year among companies with at least $100 million in assets, up from just 13 last year. He expects the number of bankruptcies to continue rising next year as well. S&P says its watch list used to be filled mostly with homebuilders or mortgage companies. But the latest additions are coming from industries such...
...original version of this story incorrectly identified Bain & Company as Bain Capital. They are separate companies...
...There are many examples of great partnerships where university endowments have invested, such as Sequoia Capital, a venture firm, and Bain Capital, a buyout firm...
Although $3.5 billion is a huge sum, NBC will foot only a fraction of the total bill. The Blackstone Group, Bain Capital, and NBC will reportedly pay just $600 million each upfront, and finance the balance. The Weather Channel's estimated $175 million annual earnings should help defray the debt...