EddieJayonCrypto
21 Jan 24
Corporate bankruptcies in the United States reached a 13-year high in 2023, with 642 filings, the highest level since 2010. California had the most filings, followed by Texas and Florida, while S&P Global warns that tough business conditions will continue into 2024. Additionally, billionaire Jeffrey...
Corporate bankruptcies in the United States reached a 13-year high in 2023, with 642 filings, the highest level since 2010. California had the most filings, followed by Texas and Florida, while S&P Global warns that tough business conditions will continue into 2024. Additionally, billionaire Jeffrey Gundlach predicts a bearish year for the markets in 2024, expecting the economy to enter a period of contraction.
New data from market intelligence firm S&P Global shows 2023 saw a total of 642 bankruptcy filings – the highest level since 2010 when there were 827 bankruptcy filings. According to S&P Global, California recorded the most filings across the country with 95 firms seeking bankruptcy protection in 2023, followed by Texas with 75 and Florida with 68. S&P Global warns that business conditions will remain tough in 2024 as the cost to borrow capital remains high.
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