From Fortune:

A staggering 639 U.S. corporations filed for bankruptcy in 2020 despite a $2.2 trillion relief package from the government. The year 2023 saw an increase with 642 total corporate bankruptcy filings – a 13 year high.

Wall Street’s optimism regarding interest rate cuts and a soft landing conflicts with S&P Global’s forecast for companies’ struggles. They predict interest rate hikes and robust wage growth in the near term.

WeWork, Bird Global, and Bed, Bath and Beyond all filed for bankruptcy in 2023. The increase in filings could mean more major bankruptcies in the future.



Read more: 2023 was a worse year for corporate bankruptcies than 2020, S&P Global finds