From Party City to Bed Bath & Beyond: Bankruptcies just hit their highest level since the Great Recession
Rising interest rates, supply chain woes, and the online shopping boom are proving a lethal combination for many businesses. according to new data from S&P Global Market Intelligence.
That's the highest number of US corporate bankruptcies recorded for the first five months of the year since 2010, the data provider said. Consumer discretionary companies, which focus on selling non-essential goods, lead the spate of bankruptcies with 37 filings so far in 2023, according to S&P's Market Intelligence data.
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