U.S. corporate bankruptcies fell slightly in April, as filings maintain the slow pace set so far in 2022, according to S&P Global Market Intelligence data.
US Corporate Bankruptcy Filings Dip
There were 29 bankruptcy filings in April, a drop from 36 in March. The lower number of filings in April is consistent with the pace of filings in the first quarter of 2022 and in line with expectations the whole year will be a slow one for bankruptcies.
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Additional key highlights include:
- The industrials sector continued to have the most bankruptcies so far in 2022, with 18 filings as of April 30. Announced bankruptcies in the sector in 2022 include companies in trucking, electrical components and equipment, and construction and engineering.
- The consumer discretionary sector had the second-highest number of bankruptcies as of April 30 with 15 filings.