April 3, 2024 at 2:54 PM EDT
Going bankrupt happens slowly, then all at once, to paraphrase an old saying. For businesses of all sizes, all at once is happening now.
This week is tied for the busiest three-day period for major corporate bankruptcies on record, according to data compiled Bloomberg. If the pace continues through Saturday, the week will top the end of April, 2009 . . .
Total bankruptcies — including consumer, small business and big corporates — have been climbing steadily for 20 months, said Michael Hunter, vice president at Epiq, a legal services company that tracks insolvency filings. . . . .
Commercial insolvencies jumped 43% in the first three months of 2024, compared with the same quarter last year . . .
I can’t find a more up-to-date chart than this one.
It ends in mid 2023 but it provides at least some confirmation of what Bloomberg.com is saying.
