U.S. Bankruptcies Surged in July, Reaching Post-COVID Peak

August 22, 2025 - U.S. corporate bankruptcies surged in July, hitting their highest monthly level since mid-2020, according to S&P Global Market Intelligence. Large company filings climbed to 71 last month from 66 in June, bringing the 2025 total so far to 446—putting the year on track to surpass 2024’s full-year count of 688.

The increase has raised concerns about the economy as high interest rates, inflation, and tariff-related uncertainty weigh on businesses, while a fragile labor market adds further strain. Industrial and consumer discretionary companies account for most filings this year, with major cases including LifeScan Global, Del Monte Foods, and Genesis Healthcare, each with more than $1 billion in assets and liabilities.

Bankruptcy levels are trending well above recent years, with 634 cases in 2023, 373 in 2022, 405 in 2021, and 638 in 2020. S&P Global classifies “large” firms as public companies with at least $2 million in assets or liabilities, and private firms with at least $10 million.