The US economy has been hit by a fresh wave of bankruptcy filings, which has surged to their highest level since 2020 Covid-19 pandemic, when similar situations were seen across the country. A report in Business Insider mentioned that several popular brands of 1990s and 2000s brands were among the companies that have filed for bankruptcy, continuing a trend that lays open the status of the United States’ economy.
Data from S&P 500 Global showed that this summer, the number of filing for US corporate bankruptcy surpassed the level of 2020, the Business Insider report mentioned. A total of 71 public and private companies filed for bankruptcy last month, which is 8 more than June when 63 companies had filed for bankruptcy.