Nearly double the number of companies entered bankruptcy in March than in February, the largest number in a single month since July, according to S&P Global Market Intelligence.
A total of 61 companies entered bankruptcy last month, and while the pace of filings has slowed year-over-year, that number hearkens back to the dog days of summer 2020, when every day brought a new big-name BK. As of March 31, a total of 138 U.S. companies have filed bankruptcy; last year, 153 had filed by the same date.
S&P reported in January that US corporate bankruptcies in 2020 reached their worst levels since 2010. A total of 630 companies declared bankruptcy last year, a significant uptick from 2019 levels, when 578 entered bankruptcy.
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