By Corporate bankruptcies rose sharply in 2024, driven by high interest rates and lingering pandemic-era debt. As many as 686 companies filed for bankruptcy as of Dec. 23, the most for any year since 2010, according to S&P Global Market Intelligence.
Electric vehicle makers continued to struggle with weakening demand, with Fisker and Northvolt filing for chapter 11 protection, following the 2023 collapses of Lordstown Motors and Proterra. The healthcare sector grappled with financial pressures from reimbursement challenges and labor shortages, with major filings by Steward Health Care and LaVie Care Centers contributing to the elevated numbers. The retail industry also saw a wave of bankruptcies among public and private companies, culminating in surprising December filings by Party City and the Container Store.
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