From billion-dollar giants to mom-and-pop shops to everyday individuals, bankruptcies are piling up across the US this year, with large corporate bankruptcies already hitting their highest level in 15 years.
Unlike past downturns, this wave of bankruptcies appears to be hitting nearly every corner of the economy. It's sweeping across a range of sectors in what one veteran bankruptcy attorney described as a strikingly "unusual" pattern.
Major corporate bankruptcies this year have included hospitality company Sonder, Spirit Airlines, Del Monte Foods, retailer Claire's, and CVS Health subsidiary Omnicare. Each, in court filings, listed more than $1 billion in liabilities, placing them among the largest bankruptcies of 2025.
Even without December figures, 2025 has already logged the highest annual count for large corporate bankruptcies since 2010, when filings totaled 828, according to S&P Global.
Data from Epiq Bankruptcy Analytics shows Subchapter V filings, made by small firms and individuals, at more than 2,300 year-to-date through mid-December — a nearly 10% increase from the same period last year.
Individual bankruptcy filings saw an 8% jump to 40,973 in November 2025, up from the 37,814 filings in November 2024, the data cited by ABI shows.
Last month, there were 25,329 individual filings for Chapter 7, known as "clean slate" or liquidation bankruptcy, up 11% from the 22,871 filings recorded in November 2024.
Don’t forget Rite Aid!
The pattern of the American economy has been altered dramatically, whether by tariffs, cuts to government grants and contracts, reduced federal payrolls, crackdowns on immigrants and their employers, probably a bunch of other stuff.
It's no surprise we'd see lots of bankruptcies, even if these were smart pro-growth moves. A lot of businesses were premised on things that changed unexpectedly.
China has won the trade war and now with its supply off refined rare earths cut of buy China the US military-industrial combine has lost its power projection hegemony over the world.
USA can no longer fight a war of any scale and duration...because it cannot make the war materiels required.
End of the petrodollar is imminent.
Trump knows it and so does @Cje95...