US corporate bankruptcy filings reached a new high in March as companies continue to battle high interest rates and lingering operational challenges.
S&P Global Market Intelligence recorded 59 new bankruptcy filings in March, up from a revised total of 48 in February. While year-to-date corporate bankruptcies are below the previous year’s total by the end of the first quarter, they are above the comparable totals for much of the past decade.
With corporate borrowing under pressure, bankruptcy cases have steadily increased since the beginning of the year and are likely to remain elevated as expectations of near-term rate cuts appear increasingly improbable.
Notable filings
Fabric and crafts retailer JOANN Inc., which operates…
