According to TechFlow, the number of U.S. corporate bankruptcy filings in 2024 reached 686, an increase of 8% year-on-year, the highest since 2010. Among them, at least 30 companies have debts of more than $1 billion.
Specific data show that there were only 777 corporate bankruptcy filings in the United States in 2021-2022, which surged to 636 in 2023. Fitch Ratings data shows that the ratio of out-of-court restructuring to bankruptcy in 2024 is about 2:1.
Gregory Daco, chief economist at Ernst & Young, noted that rising costs of goods and services are suppressing consumer demand. Although the Federal Reserve has begun to cut interest rates, it only plans to cut interest rates by an additional 50 basis points in 2025.