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US Chapter 11 bankruptcies surged to a decade-high in the 3rd quarter as stimulus dried up

Coronavirus bankruptcy

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Chapter 11 bankruptcies hit their highest level since 2010 in the third quarter as lasting damage from the coronavirus pandemic and expiration of fiscal support overwhelmed US businesses.

A gauge of Chapter 11 distress among surged roughly 12 points to 81 over the quarter that ended in September, according to a report from law firm Posinelli. The index sits roughly 26 points higher from the year-ago period and remains 19 points below the benchmark set in the fourth quarter of 2010.

The third quarter marked the sixth straight quarter of the distress index landing above 50 points. details ⇒

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