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The number of US bankruptcies has risen to a 13-year high

The number of US bankruptcies has risen to a 13-year high

First Republic Bank branch (Photo by Michael Nagel, Xinhua)

There is no official recession in the United States, but a large and growing number of American companies are filing for bankruptcy, according to an opinion piece published by the mountain. “The number of companies that have failed so far in 2023 in the wake of the 2007/2008 financial crisis is higher than in the first four months of any year since 2010, according to a new report from S&P Global”.

Registrations through April brought the year-ago tally to 236, more than double the number from a year earlier and more than any in the previous 12 years. Companies that sell directly to consumers are leading the way, most notably bed, bath and beyond, followed by industrials and then financial services, he noted. the mountain.

Another service that tracks bankruptcy said filings rose 24% year over year through March and Chapter 11 business reorganization filings rose 79%.

According to statistics released by the Administrative Office of the U.S. Courts, total bankruptcy filings increased by just 2% compared to the previous year, but business filings increased by 9.9%.

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with agency Xinhua

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