Bankruptcies are surging across the US, hitting a 15-year high for large corporate bankruptcies. Financial pressures from rising costs and tighter credit conditions are pushing businesses and individuals into bankruptcy. The wave of bankruptcies is affecting various sectors, unlike past downturns that were industry-specific. Major corporate bankruptcies in 2025 include Sonder, Spirit Airlines, Del Monte Foods, Claire’s, and Omnicare. According to S&P Global Market Intelligence, bankruptcy filings have surpassed last year’s total, with the industrials sector being the most distressed. Small businesses are also filing for bankruptcy, with Subchapter V filings increasing nearly 10% from last year. Individual bankruptcies have increased as well, with a rise in Chapter 7 and Chapter 13 filings. Bankruptcy is seen as a pathway to financial stability for debt-burdened families and companies.

Read more at Yahoo Finance: Bankruptcies are exploding across the economy, hitting small businesses and households. Few industries are immune.