Commercial bankruptcy filings are rising. Big-name companies including Bed Bath & Beyond, Silicon Valley Bank and Party City have all folded – and it looks like there are more to come.
According to Epiq Bankruptcy, a provider of US bankruptcy filing data, reported earlier this month that there were a total of 2,328 bankruptcy filings this past August, a 14% increase from the same month in 2022 and a 17% increase over July. The US cankruptcy court reported a total of 15,724 bankruptcies in the fiscal year ended 30 June 2023, a 23% increase over the prior year.
