Given the devastating economic impact of the coronavirus, experts expect a tidal wave of bankruptcies. We are already seeing the growing crest of that wave with Chapter 11 filings by household names such as Neiman Marcus, JCPenney, J.Crew, Hertz, and the ubiquitous fast-casual restaurant chain Le Pain Quotidien. The impact is global—in the UK, department store Debenhams and Byron Burger have also gone into administration.