Overview
- The IWH, which tracks insolvencies of persons- and capital-companies, reported Thursday that 4,573 firms filed in the first quarter, the most since 2005 and above the 2009 crisis.
- March logged 1,716 cases, up 17% from February and 71% above a typical pre-pandemic March, with record monthly readings in construction and trade.
- Researchers said manufacturing accounted for the largest share of recent cases.
- About 54,000 jobs were affected in the quarter, while March cases involved fewer workers per firm with roughly 14,000 jobs at the largest filers, down 40% from February.
- IWH said its early indicators point to very high insolvency numbers carrying into the second quarter.