U.S. large bankruptcies surged 49% year-over-year in Q1 2025, hitting 188—the highest since 2010, surpassing the 2020 pandemic's ~150 filings. Following 694 bankruptcies in 2024 (a 14-year peak), the industrial sector led with 32 cases, followed by consumer discretionary (24) and healthcare (13). Bankruptcies continue to climb.

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