US corporate bankruptcies hit record high in 2025
Corporate bankruptcies in the US have jumped to their highest level since 2010, with 717 companies filing by November—a 14% rise from last year.
Inflation, high interest rates, and new tariffs have made it tough for businesses to keep up, causing a wave of closures across different industries.
What's behind the surge?
Manufacturing has taken a big hit, losing over 70,000 jobs as tariffs on steel and energy gear, among other factors, drove up costs. Companies like PosiGen couldn't weather the extra expenses from higher solar panel duties.
Retailers selling nonessential stuff—think At Home and Forever 21—also struggled as people focused more on basics with prices rising everywhere.
Even big names like Rite Aid and Spirit Airlines ended up filing for bankruptcy, with Rite Aid affected by shoppers cutting back and Spirit Airlines facing soaring running costs.