Corporate bankruptcy is never a happy thing, particularly for vendors who find that they may be forced by courts into financial haircuts. That has repercussions for the businesses of those vendors, including landlords.
And according to S&P Global Market Intelligence, bankruptcy filings in the first four months of 2023 hit the highest pace since 2010. "S&P Global Market Intelligence recorded 54 corporate bankruptcy petitions in April, a drop from 70 in March. Those fresh filings have pushed the year-to-date count to 236, more than double the comparable figure a year ago and higher than any of the prior 12 years," the firm wrote.
March's 70 is reminiscent of the 2020 June and July numbers.
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