The number of US companies filing for bankruptcy is at a 10-year high. According to S&P Global Market Intelligence, 424 companies filed for bankruptcy as of August 9.
Many of these we have already known about because their filings make headlines. Brooks Brothers, Lord & Taylor, Men’s Wearhouse. The recent rush on filings includes both public and private companies with public debt. It does not include local smaller private businesses but surely that number is tragically high too.