The Covid-19 crisis has exposed many companies and individuals whose balance sheets are weak. Companies with high levels of debt have seen their share prices smashed more than their peers with stronger balance sheets.

In some cases, companies have shut down permanently as they cannot weather the storm. J Crew in the US is filing for bankruptcy, and Edcon is going into business rescue. Both companies had relatively weak balance sheets and were directly affected by the Covid-19 crisis...

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