US Bankruptcies Jump 18 Percent in 2023 Amid High Interest Rates

Corporate bankruptcy filings in 2023 rose to the second-highest level since 2010, according to S&P.
US Bankruptcies Jump 18 Percent in 2023 Amid High Interest Rates
Customers shop at a Bed Bath & Beyond store in Forest Park, Ill., on Jan. 5, 2023. Scott Olson /Getty Images
Naveen Athrappully
Updated:

Overall bankruptcies in the United States jumped by almost a fifth in 2023 as both businesses and households struggled with high-interest rates and the end of pandemic stimulus.

Total U.S. bankruptcy filings rose by 18 percent to 445,186 last year, up from 378,390 filings in 2022, according to data from Epiq AACER, a provider of U.S. bankruptcy filing data. This includes both commercial and personal bankruptcy filings until the month of November. “As anticipated, we saw new filings in 2023 increase momentum over 2022 with a significant number of commercial filers leading the expected increase and normalization back to pre-pandemic bankruptcy volumes,” said Michael Hunter, vice president of Epiq AACER.

Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.
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