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According to a new report from Cornerstone Research, the number of large corporate bankruptcies “surged” in the first half of 2023 compared to the number of filings in the most recent years. The report, which is entitled “Trends in Large Corporate Bankruptcies and Financial Distress: Midyear 2023 Update” reports that the number of large corporate bankruptcy filings in the first half of this year already exceeds the total number of filings for the full year 2022. Cornerstone Research’s September 26, 2023, press release can be found here. The report itself can be found here.Continue Reading Large Company Bankruptcy Filings “Surged” in Year’s First Half

Due to the financial fallout from the COVID-19 pandemic, the number of U.S. bankruptcy filings by companies with over $100 million in assets was 84 percent higher during the first three quarters of 2020 compared to the same period last year, according to a new report from Cornerstone Research. The report, entitled “Trends in Large Corporate Bankruptcy and Financial Distress: 2005-Q3 2020” (here), shows that the increase in the number of bankruptcies was particularly pronounced for “mega bankruptcies” (involving companies with over $1 billion in reported assets). However, the report also suggests that the number of bankruptcy filings by companies with over $100 million in assets may have peaked in July. Cornerstone Research’s October 28, 2020 press release about the report can be found here.
Continue Reading Cornerstone Research: Business Bankruptcies Up Significantly in Year’s First Nine Months