U.S. business bankruptcies rose 30%, court stats show – Reuters

NEW YORK, Oct 26 (Reuters) – Corporate bankruptcies in the U.S. rose by 30% over the past 12 months, according to statistics published Thursday by the U.S. court system.

Business bankruptcies saw a relatively sharp increase for the past year, rising to 17,051 new cases for the year that ended Sept. 30, 2023, but the overall pace of bankruptcy filings remains well below what it was a decade ago, according to statistics published by the Administrative Office of the U.S. Courts.

The latest increase in business bankruptcies is in large part a “return to normal” after an “unnaturally long period of easy money,” according to Scott Stuart of the Turnaround Management Association, a nonprofit association of corporate restructuring professionals. I…

Read the full article at: https://www.reuters.com/legal/transactional/us-business-bankruptcies-rose-30-court-stats-show-2023-10-26/