ব্যঙ্গাত্মক বর্ণনা এবং ফরেক্সের প্রবেশদ্বার বিন্যাস
US bankruptcies surge to pandemic peaks
The US government is both surprised and frustrated as the number of bankruptcies is skyrocketing. It is now as high as during the COVID-19 pandemic!
According to S&P Global Market, corporate bankruptcy filings surged dramatically in August, especially after a slowdown in July. It is the highest figure since 2020, recorded over the first eight months of this year.
Recent S&P Global Market reports showed 63 bankruptcy filings from public and private companies in August, much more than the 49 filings in July. As a result, a total of 452 bankruptcy filings have been recorded over the first eight months of 2024, a number only seen during and immediately after the pandemic. Back in 2020, in light of the initial hit from COVID-19, there were 466 bankruptcy filings during the same period.
American companies are facing multiple challenges this year, including high interest rates and geopolitical uncertainty. However, experts are not too worried, as the US economy has proven resilient. According to the Bureau of Economic Analysis, the real GDP advanced by 3% in the second quarter of 2024 compared to the first.
In August, three major bankruptcies were recorded, involving companies with liabilities over $1 billion. These include SunPower Corp., a solar tech and energy services provider, Avon International Operations Inc., a perfume and cosmetics distributor, and SQRL Service Stations, which operates gas stations and convenience stores. While SunPower is publicly traded, Avon and SQRL are private companies.
প্রকাশিত 19 September 2024
© InstaFintech Group
![]()
© InstaFintech Group
