Corporate Bankruptcies of 2024

Bankruptcy filings have been on the rise in 2024 compared to previous years. Corporate bankruptcies are exceedingly common. 18,926 U.S. businesses filed for bankruptcy in 2023 alone. And while many bankruptcies precede a business’s permanent closure, some companies successfully emerge from the process after restructuring and are able to continue doing business  (such as  Apple, General Motors, and Marvel Entertainment etc) are just a few high-profile examples.. There have been several notable business bankruptcies in 2024 so far:

Retail:

Express: The clothing retailer filed for Chapter 11 bankruptcy in April with plans to pursue a sale and close some stores.
Rue 21: The mall-based casual apparel retailer filed for bankruptcy for the third time in May.
99 Cents Only Stores: The parent company of the discount retailer, Number Holdings Inc., filed for bankruptcy in April.

Other Industries:

Ambri: The liquid metal battery developer backed by Bill Gates filed for Chapter 11 bankruptcy in May due to funding shortfalls.
Sickles Market: The high-end, family-owned grocery chain filed for Chapter 11 bankruptcy in April.
ConvergeOne: The communications technology company filed for bankruptcy in April.