Opinion
More businesses are looking down the barrel of insolvency, as an economic slowdown crimps sales and squeezes profit margins while borrowing costs soar.
Karen MaleyColumnist
Companies are collapsing at the fastest clip in years, as soaring interest rates push their borrowing costs sharply higher, while slowing economic activity is causing sales to languish.
The US pharmacy chain Rite Aid filed for bankruptcy on Sunday AP
The move by troubled US chemist chain Rite Aid Pharmacy to file for bankruptcy on Sunday has added another name to the list of US corporate casualties for 2023.
By the end of September, total US companies entering insolvency reached 516, according to S&P Global. Thats a big …
Read the full article at: https://www.afr.com/companies/financial-services/the-worrying-rise-in-corporate-busts-20231017-p5ecx0