In total, at least 686 large companies went bankrupt during the year, an increase of 8 percent compared to 2023, the newspaper writes. The figures come from S&P Global and apply to either listed companies or companies with a certain size of debt at the time of bankruptcy.
High interest rates and decreased consumer demand are described as underlying causes.
Among the bankruptcies, notable examples include Tupperware, which manufactures kitchen utensils, the restaurant chain Red Lobster, the retail chain Party City, the airline Spirit Airlines, and the cosmetics company Avon Products.
The total number of corporate bankruptcies in the USA exceeded 22,000 last year.
