Overview
- S&P counts 717 Chapter 7 and 11 filings by larger companies through November, already the most since 2010 and above last year’s total.
- Industrials led the rise in distress, followed by consumer discretionary and healthcare, with billion‑dollar cases including Sonder, Spirit Airlines, Del Monte, Claire’s and Omnicare.
- Small-business reorganizations under Subchapter V exceeded 2,300 year-to-date through mid-December, with 223 filings in November, up 23% from a year earlier, according to Epiq and the ABI.
- Individual filings rose 8% year over year to 40,973 in November, with Chapter 7 and Chapter 13 cases both increasing, ABI-cited data show.
- Rising costs, tight credit and trade policies such as higher tariffs are cited as key pressures, while the White House defends tariffs as beneficial despite strong but uneven headline growth.