Yawn: PE-Backed Bankruptcies Not Even Moving the Radar

It seems appropriate that the last monthly bankruptcy list I compile racks up a big fat zero. The closest thing we have is the possibility that Apollo Management’s Innkeepers USA, a real estate investment trust, might maybe possibility go bankrupt, according to the Wall Street Journal. Apollo acquired the company in 2007 for $1.5 billion; it is in the process of exploring “all possible” restructuring possibilities. And that’s the best we’ve got for April. When I began doing these almost two years ago, they were averaging 10 to 15 per month. If PE-backed bankruptcies continue to trend down (and, they can’t really go down much further from here), my successor will be spending much less time hunched over elaborate spreadsheets.

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