Bankruptcy filings hit decade-high last year
Bankruptcy filings hit a decade-high last year — though, by one measure, they eclipsed the financial crisis high.
The big picture: 7% of companies that filed for bankruptcy had over $1 billion in liabilities, the highest share in at least 10 years, according to S&P Global Market Intelligence.
What they’re saying: The energy and consumer sectors saw the bulk of filings, with the pandemic slamming “companies that relied on consumer spending and those in the energy industry that suffered a historic downturn in oil prices,” researchers wrote.
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