According to S&P Global, the number of bankruptcies among U.S. companies in 2024 has surged to 694, marking the highest level in 14 years. This increase is attributed to several challenges, including high interest rates, tightened credit conditions, and slowing consumer spending.
Among the sectors, the consumer discretionary sector leads with 109 bankruptcies, followed by the industrial sector with 90 bankruptcies, and the healthcare sector with 65 bankruptcies.
During the 2008 financial crisis, U.S. corporate bankruptcies hit a record high, with over 4,000 companies filing for bankruptcy each year from 2007 to 2009. After the crisis, the number of bankruptcies significantly decreased and remained relatively stable throughout the 2010s. However, during the 2020 pandemic, bankruptcies rose again to 638.
In 2021 and 2022, the implementation of stimulus measures led to a significant reduction in bankruptcies as the economy rebounded.
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