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Corporate Bankruptcies Hit A High In June: Is The US Economy Slowing? (UPDATED)

Editor’s note: This story has been updated to add additional detail around U.S. corporate bankruptcies filed in 2010.

A higher-for-longer interest rate environment has sent many companies reeling, as corporate bankruptcies hit a high in June. The data came during concerns about the U.S. economy slowing.

What Happened: A post on X relayed data from an S&P Global report on corporate bankruptcy.

Corporate bankruptcies totaled 75 in June, its highest monthly tally at least since January 2020. The 75 bankruptcies are slightly higher than the 71 and 74 bankruptcies in June and July of 2020, respectively. Filings have markedly increased during the Federal Reserve’s gradual interest rate hikes of 2022.

Electric vehicle manufacturer Fisker Inc. and Redbox parent company Chicken Soup for the Soul Entertainment Inc. were among the most notable companies to file for bankruptcy in June.


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