The march to receivership.

U.S. Bankruptcy Court, Northern District of Oklahoma.

Along with all the other cheery news going on, there's been an increasing number of companies file for bankruptcy.

Chesapeake Energy, a major player in Wyoming, has filed for bankruptcy this past week.

The current economy has been extremely hard on oil and gas companies, a byproduct of oversupply. That's only partially attributable to the Coronavirus pandemic.  A downward trend in petroleum consumption was already ongoing prior to the disease and then the Russia/Saudi price war created a disastrous situation for the petro companies.

In addiction to Chesapeake, Lillis Energy, Covia and Sable Permian have also filed during the past week.

Aeromexico, a Mexican airline founded in 1934, also has.  Airlines have been in particular trouble in the Covid Recession due to the massive decrease in travel.

Another business likely impacted by a lack of travel due to the pandemic was Cirque du Soleil, the dance company, which also filed for bankruptcy this past week.

NPC, which owns the Pizza Hut and Wendy's franchises, filed for Chapter 11 protection this well.

Remington Arms, which has been in financial trouble for some time, is looking at taking bankruptcy.  The firearms industry has been volatile for some time and even though sales have been strong, and right now are very strong, changes in technology and the switch of emphasis in longarm sales from game fields to military style weapons has been hard on Remington.

Remington is the oldest firearms manufacturer in the United States, dating back to 1816.  In an interesting twist to the story, the company is likely to be sold in receivership and the likely buyer is the Navajo Nation which has recently been expanding its economic holdings, to include the acquisition of a coal mine in Wyoming.