A liquidity crisis is the most common reason for businesses to fail.
Also people generally don't really account for risk. All is based on a prefect growth curve and achieving the often very challenging goals.
A crisis like the current covid-19 crisis will cause many businesses to fail. So far they have managed to keep running by increasing debt.
But now the reports of even big corporations restructuring and firing thousands of people are starting to come in.
And the first banks are showing they are in trouble too. The biggest hit though will come when both banks and businesses will have to present their year report over 2020 in the spring of 2021.