While several key indicators, such as a notable decrease in inflation and an uptick in consumer confidence, signal an economic turnaround, corporate bankruptcies have followed a divergent trend this year.
Various factors, including escalating interest rates, persistent inflation earlier in the year, and companies grappling with substantial debt amassed during a period of easily accessible funds, have contributed to one of the most active years for corporate bankruptcies in over a decade.
S&P Global Intelligence reports a total of 591 corporate bankruptcies in 2023, marking one of the highest annual bankruptcy counts since 2011, NPR reported.
The only year surpassing this figure was 2020, with 639 corporate bankruptcies recorded.
Written by B.C. Begley
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B.C. Begley 