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Alas, bankruptcy was the best fit for Sequential Brands Group, Inc., owner of Jessica Simpson, Joe's Jeans, And1, Avia, and other apparel brands. The company filed for Chapter 11 protection after failing to comply with the amended credit agreement.

Major discount retailer, Big Lots, Inc. filed for bankruptcy on September 9, 2024. Importantly, both payment-based (DBT Index) and financial-only based models (Z’’-Score) failed to warn about this company’s bankruptcy risk. Conversely, the FRISK® Score provided warning for more than a year, enabling clients to mitigate their trade credit exposure.

CreditRiskMonitor recently interviewed Patrick Spargur, an experienced commercial debt collections executive, and former credit manager, on the economic downturn and relevant credit industry best practices to use in this challenging environment.

When WW International (Weight Watchers) filed for bankruptcy, credit professionals relying solely on financial-based models like the Z''-Score did not detect the company’s financial distress. CreditRiskMonitor’s 96%-accurate FRISK® Score – a real-time, hybrid model – flagged WW International’s financial distress well in advance, offering a crucial early warning. This case underscores the power of combining financial data, stock market performance, aggregate insider sentiment, and agency ratings for precise bankruptcy predictions. 

CreditRiskMonitor is proud to announce a new partnership with Esker, a worldwide leader in AI-driven process automation software used by more than 6,000 companies worldwide.