Why are US Bankruptcies Reaching 2010 Levels?
Sectors & Industries
June 25, 2024
US bankruptcies are rising rapidly. Through May 2024, 275 large companies have declared bankruptcy, the second highest since 2010.
In May alone, 62 firms went bankrupt, the third largest monthly number since 2020. Most bankruptcies are in consumer discretionary companies as Americans scale back spending.
Notably, Red Lobster recently filed for bankruptcy, indicating more signs of economic weakness.
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