U.S. corporate bankruptcies reached their worst levels in 10 years in 2020 as the coronavirus pandemic upended global industries and struggling companies faced their breaking points.
A total of 630 companies declared bankruptcy in 2020, according to an analysis by S&P Global Market Intelligence. This surpassed the number of filings in every year since 2010.
Market Intelligence’s analysis is limited to public companies or private companies with public debt where either assets or liabilities at the time of the bankruptcy filing are at least $2 million. Private companies without public debt must report at least $10 million in either assets or liabilities at the time of filing.
Several high-profile companies, especially those relying on co…
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