Private bankruptcy filings this year have surpassed a peak set in the early stage of the pandemic, UBS said.
So far in 2023, private bankruptcy filings have outstripped a peak set in the early stage of the COVID pandemic by a wide margin.
Bankruptcy hot spots include the real estate industry, which has led this year's increase in private bankruptcy filings.
The UBS Evidence Lab Corporate Bankruptcy Monitor tracks US corporate chapter 7, 11, and 15 bankruptcy filings.
After sifting through data, UBS outlined several takeaways, including that private bankruptcy filings are led by the real estate, chemicals, healthcare, and retail industries.