Corporate bankruptcies have fallen to all-time lows this year, thanks in part to a deluge of liquidity keeping companies afloat during the COVID-19 pandemic, according to S&P Global Market Intelligence report.
Thirty companies filed for bankruptcy in October, up from 32 slightly fewer in September. In the first 10 months of this year, 364 corporate bankruptcy cases were filed, less than in the previous 11 years, according to the report released on Nov. 8.
Fourteen health care companies filed for bankruptcy this year, including two in October, according to the S&P report. 61 consumer discretionary companies went bankrupt this year, most of all sectors.
In line with trends in healthcare, the number of hospital bankruptcies has fallen sharply this year. More than 25 hospitals went bankrupt last year, and few have filed for Chapter 11 bankruptcy this year.
The S&P report includes information about private companies with assets or liabilities of $ 10 million or more at the time of filing and publicly traded or private companies with public debt with assets or liabilities of $ 2 million or more at the time of filing.
Read the full report here.