The New York Times Quotes Dion Hayes on Demand for Restructuring Experts

March 31, 2020

The New York Times quoted Dion Hayes, McGuireWoods’ deputy managing partner for litigation, in a March 30, 2020 story explaining how the economic fallout from the coronavirus pandemic is creating a demand for restructuring experts to assist companies with negotiating new terms with lenders, vendors, employees and other parties.

The Times reported that corporations across numerous of industries are being forced to stretch cash, cut costs, avoid loan defaults and prepare for the possibility of reorganizing their businesses.

Hayes, a member of the firm’s COVID-19 Response Team and former chair of the Restructuring & Insolvency Department, told the Times that he was fielding many calls from “businesses that rely on foot traffic.”  Companies that depend heavily on consumer spending are especially troubled, the story noted.