Daily Management Review

S&P: Corporate bankruptcy filings in USA hit the highest in 13 years


S&P Global Market Intelligence, a media holding firm, reports that businesses are concerned about rising inflation and high interest rates.

Since 2010, a record number of American businesses have declared bankruptcy, with the consumer sector seeing the majority of these filings, shows data from the media company S&P Global Market Intelligence.

According to its data, American businesses are worried about high borrowing rates and growing inflation. In the first half of 2023, there were more Chapter 11 bankruptcy filings overall than in any other similar period since 2010, which allows for the reorganization of businesses.

Companies in the consumer sector experienced the highest number of bankruptcies in 2023. Manufacturing and the healthcare industries both saw a dramatic increase in the number of businesses declaring insolvency.

The media holding's statistics includes private enterprises with assets and liabilities totaling at least $10 million.

source: reuters.com