To date, the company’s outstanding debt stands at $467 million (plus interest), according to the latest documents. It has to pay more than one quarter of that—$119 million—in interest and principle this year, and around $84 million for each of the next four years. That debt burden, coupled with an extended period when Sotheby’s isn’t generating the kind of revenue it would in a non-pandemic year, resulted in the release of Deloitte’s “emphasis of a matter” related to Sotheby’s own focus on the business as a “going concern.” – Artnet