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U.S. Corporate Bankruptcies: Data, Drivers, and Macro Shockwaves (2022-2025)

An unprecedented bankruptcy wave is pushing US economy to its limit...

Updated Nov 23, 20251 min readUSeconomymacrofinancetrading

An unprecedented bankruptcy wave is pushing US economy to its limit...

Information only. Not investment advice. All figures are latest available as of November 2025 and subject to revision by original sources. 1. Where We Actually Are: The Numbers 1.1 Corporate bankruptcies are back to post-GFC territory On the corporate side (S&P’s universe of “large” filers), the post-COVID quiet period is over. S&P Global Market Intelligence data (public firms with ≥ $2m assets/liabilities, or private with ≥ $10m) show:  2020: 638 tracked U.S. corporate bankruptcies (COVID shock year) 2021: 405 2022: 373 2023: 634 2024: S&P Jan-2025 piece: 694 corporate bankruptcies in 2024, the highest since 2010 Another S&P-based summary (via Newsweek) cites 688, reflecting small definitional differences Either way: 2024 > 2023 and > 2020 2025 YTD: By end-June 2025: 371 filings, the highest H1 total since 2010   By end-July 2025: 446 filings, most for Ja


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