In the News
Corporate Bankruptcies Rise as Lofty Interest Rates, Inflation Sap Businesses
The Wall Street Journal
Troubled companies across industries have been filing for bankruptcy at a faster pace this year than last, a boom let that follows a period of record inflation and one of the quickest rate-hike cycles in U.S. history, according to an article from The Wall Street Journal.
This year, a total 753 commercial chapter 11 cases had been filed by the end of February, a 76% increase from 429 filings in the same two-month period last year, according to data and services provider Epiq Bankruptcy.
Although corporate bankruptcies in January and February outpaced those in the same period last year, this year’s early crop was still below early - and prepandemic levels. A total of 884 commercial chapter 11 cases were filed in those two months in 2021 and 1,179 in 2020, Epiq data show.
Read the full article here.