Factbox-US corporate bankruptcies at highest level since 2010

investing.com:

By Bansari Mayur Kamdar

(Reuters) — U.S. companies are feeling the heat of decades-high interest rates and sticky inflation, with several of them filing for bankruptcy protection as the era of easy money draws to a close.

Total Chapter 11 filings in the first seven months of 2023 surpassed total filings for the previous year, data from S&P Global (NYSE:SPGI) Market Intelligence showed.

There were 64 corporate bankruptcy petitions in July, the note added, bringing the year-to-date count to 402.

Consumer discretionary companies topped the number of bankruptcies than any other sector this year, while industrials clocked the highest number of filings in July.

Companies with Bankruptcy Reason

over $1 billion announcement

in liabilities date

Aug 6 The trucking firm filed for Chapter

Yellow Corp 11 bankruptcy protection and said it

would wind down, after struggling

with a mounting debt load.

July 27 The commercial aircraft leasing

Voyager Aviation company sought bankruptcy protection,

Holdings concurrently announcing a sale

agreement with an affiliate of Azorra

Aviation Holdings.

June 4 The data-center operator filed for

Cyxtera bankruptcy as it struggles to pay

Technologies down debt and faces funding crunch.

PGX June 4 PGX filed for bankruptcy as it lost a

Holdings court case brought by the CFPB over

its billing for credit repair

services.

June 1 The aerospace supplier, formed

Incora through the merger of Wesco and

Pattonair, filed for bankruptcy due

to depressed demand for aircraft

maintenance and litigation over its

efforts to restructure its debt

outside of bankruptcy.

June 1 The ATM maker filed for bankruptcy,

Diebold Nixdorf (OTC:DBDQQ) saying it had reached an agreement to

reduce the