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Corporate bankruptcy American companies rose to its highest level since 2010 in the first quarter, shown by new data.
S&P Global Market Intelligence said that from January to the end of March, there was an increase from 139 after 188 insolvency among big American companies, after 188 bankruptcy. Insolvency filing In the first quarter of 2024, which was 14 years old at that time.
In the last three months, 188 bankruptcy has been the highest in the first quarter since 2010, when 254 bankruptcy filing in the economy in view of the financial crisis.
S&P Global wrote, “Companies, especially weak balance sheets, faces challenges as the debt mature and needs to be reinforced on higher interest rates than the time of release.”
Chapter 11 EV Manufacturer Nicola Files for Insolvency Conservation
The craft retailer Joan Fabrics were one of the major bankruptcy filing in this year’s Q1. (Tim LD/Medianuse Group/Reading Eagle Getty Image/Getty Image)
The report states that for non-investment-grade companies, Financial matrix Based on the market intelligence data, they are shown that they are dealing with firms growing debt pressure and that companies are slightly less in paying interest with cash on hand.
The largest number of bankruptcy in the first quarter of this year took place in the industrial area with 32, followed consumer discretionary With 24. Those areas have accounted for about 30% bankruptcy in Q1.
S&P Global said that the industrial and consumer segments of S&P 500 were 0.53% and 13.97% below in the first quarter respectively.
Chapter 11 Hooter Files for Bankruptcy
Genetic testing company 23andme filed for bankruptcy earlier this year. (Smith Collection/Gado/Getty Image/Getty Images)
The notable companies filed for bankruptcy in the first quarter were owned by F21 OPCO LLC with more than $ 1 billion liabilities. forever 21 Apparel chain, electric vehicle-producer Nikola and craft retailer Joan.
Other notable firms enter the bankruptcy process include restaurant series hooters and Genetic Testing Company 23andme,
Craft Retailer Joan Chapter 11 is closing all American stores a month after filing bankruptcy
EV producer Nikola filed for bankruptcy earlier this year. (Through Andreas Gabert / Bloomberg Getty Image / Getty Image)
Despite being corporate bankruptcy in the first quarter of last year, he remained below the level of bankruptcy seen during the financial crisis – which reached 1,836 in 2009.
Since 2020, in July 2020, insolvency was the highest monthly clan of filing, when there were 74 insolvency.
