The pace of US corporate bankruptcy filings decelerated at the start of the new year, though companies still face relatively high interest rates and a challenging labor market.
S&P Global Market Intelligence recorded 36 bankruptcy filings in January, down from a revised 49 in December 2023 and below most monthly filing totals in the previous year.
Notable filings
Real estate developer Hudson 888 Owner LLC sought bankruptcy protection Jan. 7. The company, which owns a mixed-use real estate project in New York City, said elevated interest rates negatively affected its sales.
Two companies with more than $1 billion in liabilities, Careismatic Brands LLC and Audacy Inc., filed for bankruptcy during the month.
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