US companies bankruptcy rate one of the highest since pandemic
BREAKING: 512 large US companies have declared bankruptcy year-to-date, only 6 less than during the 2020 pandemic.
Outside of the pandemic, this is the largest number of bankruptcies in 14 years.
In September and August alone, 59 and 63 firms filed for bankruptcy, the most in at least 4 years.
By sector, the greatest number of bankruptcies have been seen in the consumer discretionary, at 81, followed by 60 in industrials and 48 in healthcare.
3 of the 5 bankruptcy announcements with liabilities over $1 billion were in the consumer discretionary sector as Americans pulled back on spending.
Corporate bankruptcies are at recession levels.
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