US corporate bankruptcies hit highest level since Great Recession

• A new report shows U.S. corporations filing for bankruptcy has hit a new high in the first quarter of 2025. So far, 188 companies have filed for bankruptcy.
• In Q1 of 2024, 139 companies filed for bankruptcy.
• The last time levels were this high was 2010, following the Great Recession, when 254 companies filed for bankruptcy in Q1.

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U.S. corporate bankruptcies hit a 14-year high in 2024 and already in 2025, that trend seems to be continuing.

How many companies have filed for bankruptcy so far in 2025?

According to the S&P Global Market Intelligence report, corporate bankruptcies hit their highest level since 2010 in the first quarter of 2025.

From the beginning of January to the end of March, 188 companies filed for bankruptcy.

That’s up significantly from the 139 filed during the first quarter of 2024 and the highest it’s been since 254 companies filed for bankruptcy in Q1 of 2010 in the wake of the Great Recession financial crisis.

In 2024, a total of 694 companies filed for bankruptcy. While that is the highest it’s been in more than a decade, it’s still far below the peak of 1,836 during the financial crisis in 2009.

Which companies have filed?

Some notable companies to file for bankruptcy so far in 2025 include Forever 21 and Joann. Recently, Hooters along, with 23andMe, also started the process.