Now Comes The Other Pandemic—Soaring Bankruptcies

Stay-at-home orders and the shutdown of nonessential business have driven broad swaths of the economy into panic mode. In industries that were already in a precarious position before the crisis, including retail and energy, the coronavirus pandemic has tipped many companies over the edge. A host of oil companies have sought chapter 11 protection, while J.C. Penney Co. JCP -11.27% and Neiman Marcus Group Inc. are expected to file for bankruptcy soon.