Corporate bankruptcies are on track to reach the highest level in ten years according to new data from S&P Global. 424 companies have declared bankruptcy, as of August 9, with most of these bankruptcies occurring in the consumer, industrial, and energy markets. Financial experts warn that these bankruptcies could only be the beginning with a lot of pressure being placed on consumer-facing industries as they face several COVID-related challenges. Some industry experts believe that these industries were in trouble pre-COVID and that the pandemic simply accelerated some bankruptcies. 

Click here to read more.