Party City, Bed Bath & Beyond, and mattress seller Serta Simmons are just some of the nearly 300 corporations that have filed for bankruptcy so far. MORE ⬇️
Corporate bankruptcies are at its highest levels since the great recession in part of a growing trend among billion-dollar businesses that experts believe isn't going away anytime soon.
According to new data from S&P Global Market Intelligence, that's the highest year-to-date total since 2010, which saw over 400 bankruptcies in just five months.Some of the most notable include Jenny Craig, Vice Media and Monitronics International Inc., the parent company of Brinks home security. Most of the companies going bankrupt sell non-essential consumer products, including fire protection company Kidde-Fenwal or the specialty retail chain, Christmas Tree Shops.
But as interest rates rose, the company couldn't keep up with paying its debt. Industry analysts believe the trend is sticking around for the time being.
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