Bankruptcies climb to highest level since 2020 in a March spike with Silicon Valley Bank parent SVB Financial Group's Chapter 11 filing as a major component.
Propelled by the bankruptcy of Silicon Valley Bank’s parent SVB Financial Group and other deals, U.S. bankruptcies jumped in March to the highest level in three years, in a sign of a cooling economy.
With... Propelled by the bankruptcy of Silicon Valley Bank’s parent SVB Financial Group and other deals, U.S. bankruptcies jumped in March to the highest level in three years, in a sign of a cooling economy. With March included, the first-quarter bankruptcy total came to 183, which is more than any comparable period in the past 12 years, S&P said in a report.
Sinclair Broadcast Group Inc.’s SBGI regional sports unit Diamond Sports Group LLC filed plans to reorganize its debt under Chapter 11 , as one of five bankruptcies with $1 billion to $10 billion in assets and liabilities so far this year.
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