We’ve all experienced buyer’s remorse, that unhappy sense that you’ve overpaid, bought the wrong colour or just the wrong thing. For corporate America, the coronavirus crisis is bringing that sentiment out in spades.

By the end of July, 70 American deals had been withdrawn this year, the same number that fell apart in all of 2019 and the biggest total for this point in the year since 2015, according to Refinitiv. Not all these mergers and acquisitions faltered because of changed sentiment, but the economic pain of lockdown is certainly playing a part.

In the past few months, companies ranging from private equity groups Advent International and Sycamore Partners to mall owner Simon Property Group have sought to walk away from deals signed before Covid-19 hit. Sellers are fighting back, arguing that a contract is a contract. Most recently, brokerage Realogy lost a crucial round in its battle to force relocation group Sirva to go through with purchase of the former’s Cartus division. Sirva had questioned Cartus’ ability to survive the pandemic, but a judge concluded Realogy caused the deal to collapse.