Dean & Deluca Inc., the pioneering gourmet grocer that was already struggling to survive, filed for Chapter 11 protection from creditors as the coronavirus brought New York City shoppers to a virtual standstill.
The company listed liabilities of as much as $500 million and assets of no more than $50 million in a bankruptcy petition filed in Manhattan. Its owner, Thailand’sPace Development Corp.,defaulted on a total of 9.5 billion baht (about $315 million) of debt last year.
26,365 in U.S.Most new cases today
-23% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-1.082 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23