June saw the highest monthly number of corporate bankruptcies since 2020, according to a report from S&P Global Market Intelligence. Also, the first half of 2024 saw total bankruptcies surpassing first-half-year figures across more than the previous decade.
It took Covid-19 to push as many corporations into situations that required bankruptcy in 2020. Now the driving forces are high interest rates, slowing consumer spending, and ongoing supply chain issues that many have thought were solved.
The total for June was 75. In 2020, the only number close was the 74 in the same month. Other than March 2021, during that year and 2022, the typical monthly number of bankruptcies was about this June's total.
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