BREAKING: US bankruptcies hit the second-highest level in 14 years

The number of US bankruptcy filings reached 452 in 2024 through August, the 2nd largest in 14 years.

In August alone, 63 companies went under, the 4th worst month since the COVID CRISIS.

Among different sectors, 69 consumer discretionary firms filed for bankruptcy year-to-date, followed by 53 in industrials and 45 in healthcare.

This concerning trend has been driven by elevated interest rates making companies struggle to pay out their debt and finance their operations as well as US consumers sharply pulling back on spending.

Such a level of bankruptcies have rarely been seen outside of recessions.

If you find it informative and helpful you may consider a paid subscription (or annual if subscribed), become a Founding Member, and follow me on Twitter:

Why subscribe?

https://globalmarketsinvestor.substack.com/about