Posted 9/17/2023, 12:50:00 PM

Bankruptcy Filings Rise but Remain Below Pre-Pandemic Levels as Economy Resets

Commercial bankruptcy filings are up 14% compared to last year, but are still below pre-pandemic levels.
Big name companies like Bed Bath & Beyond and Silicon Valley Bank have filed recently, but their business models were flawed.
Small business owners can more easily reorganize under the Small Business Reorganization Act if debts are under $7.5m.
Bankruptcies help the economy reset after a boom period by clearing out poorly run businesses.
The recession-proof business owners save, invest wisely, manage cash carefully, and don't overspend.

theguardian.com

Relevant topic timeline:

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