https://insight.factset.com/cautious-optimism-for-capital-markets-coming-out-of-1q24
In 2023, Chapter 11 bankruptcy filings skyrocketed by 72%, reaching a total of 6,569, as revealed by data from Epiq AACER. The surge, attributed to rising interest rates and inflation, pushed highly leveraged organizations to the brink. Additionally, Subchapter V elections within Chapter 11, aimed at small businesses, surged by 45% to 1,939 filings. This marked a return to more typical bankruptcy levels after two years of relatively low filings, with overall commercial and consumer bankruptcies rising by 19% and 18%, respectively. The increase was further fueled by a greater number of large filings, which contributed to the overall spike in Chapter 11 cases.