Chapter 11 allows a company to reorganize under court supervision while continuing to operate, giving it a chance to restructure its finances and business operations.
These bankruptcies have more than doubled in just two years.
This spike follows widespread struggles among companies to meet debt obligations as the Federal Reserve hiked interest rates to the highest levels in 23 years.
Now, markets are expecting 50 basis point rate cuts, with the US economy teetering on the edge of a recession.
So much for a “soft landing.
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