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Bankruptcies: US: Difference between revisions
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|2,057 | |||
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|32,390 | |||
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!Nov-23 | !Nov-23 | ||
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=== December 2023 === | |||
* Commercial chapter 11 filings increased 72 percent to 6,569 in calendar year 2023 from the previous year’s total of 3,819, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data.<ref>https://bankruptcy.epiqglobal.com/blog/commercial-chapter-11-filings-increase-72-percent-in-calendar-year-2023</ref> | |||
* Overall commercial filings increased 19 percent to 25,627 from the 21,479 registered the previous year. | |||
* Subchapter V elections within chapter 11 also experienced a substantial increase in calendar year 2023, as the 1,939 filings represented a 45 percent increase from the 1,334 recorded in 2022. | |||
* Total bankruptcy filings in calendar year 2023 were 445,186, an 18 percent increase from the 378,390 registered during calendar year 2022. While representing a substantial year-over-year increase, total bankruptcy filings remain lower than the pre-pandemic total of 757,816 recorded in CY2019. | |||
* Overall consumer filing totals for calendar year 2023 were 419,559, representing an 18 percent increase from the 356,911 consumer filings the previous year. | |||
=== November 2023 === | === November 2023 === | ||
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== S&P Global == | == S&P Global == | ||
''Bankruptcy figures include public companies or private companies with public debt with a minimum of $2 million in assets or liabilities at the time of filing, in addition to private companies with at least $10 million in assets or liabilities. S&P Global Market Intelligence may remove companies from this list if it discovers that their total assets and liabilities do not meet the threshold requirement for inclusion.'' | ''Bankruptcy figures include public companies or private companies with public debt with a minimum of $2 million in assets or liabilities at the time of filing, in addition to private companies with at least $10 million in assets or liabilities. S&P Global Market Intelligence may remove companies from this list if it discovers that their total assets and liabilities do not meet the threshold requirement for inclusion.'' | ||
[[File: | [[File:423147000.png|alt=|center|thumb|683x683px|https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-corporate-bankruptcies-fall-in-november-with-34-new-filings-79694316]] | ||
=== December 2023 === | |||
US corporate bankruptcy filings rose again in December 2023, closing out a year with the most filings since 2010.<ref>https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-bankruptcies-hit-13-year-peak-in-2023-50-new-filings-in-december-79967180#:~:text=9%20Jan%2C%202024-,US%20bankruptcies%20hit%2013%2Dyear%20peak%20in%202023,50%20new%20filings%20in%20December&text=US%20corporate%20bankruptcy%20filings%20rose,bankruptcy%20filings%20in%20the%20month.</ref> | |||
S&P Global Market Intelligence recorded 50 bankruptcy filings in the month. The total was up from a revised 33 recorded in November, but roughly in line with the monthly average of just under 54 bankruptcies for 2023. | |||
There were 642 total filings in 2023, significantly above the previous two years and marginally more than in 2020, which saw a flurry of COVID-19 pandemic-related filings. Although investors expect the Federal Reserve to cut interest rates as early as March, companies will still have to contend with relatively high interest rates and robust wage growth in the near term. | |||
=== November 2023 === | === November 2023 === | ||