Key Points

  • Data released by S&P Global on Monday showed that total U.S. large corporate bankruptcy filings rose to 372 in the period through June 2026, slightly above the 371 filings in the same period last year, continuing to hover near the highest levels since 2010.
  • In the first half of the year, the industrial sector had the most bankruptcy filings at 50; non-essential consumer goods companies followed with 35; and healthcare companies had 26.
  • In June alone, the industrial and healthcare sectors each filed at least 7 bankruptcy petitions, leading distressed industries; the financial sector filed 5.

In-Depth Analysis

Small businesses also showed signs of distress. According to a report released last week by bankruptcy information service provider Epiq AACER, 1,663 small businesses filed for bankruptcy in the first half of 2026, a 50% surge compared to the same period last year.

Amy Quackenboss, executive director of the American Bankruptcy Institute, said in a statement that the increase in small business bankruptcy filings under Subchapter V of Chapter 11 of the Bankruptcy Code is attributed to "the ongoing financial pressures facing households and employers." She noted: "Higher borrowing costs, rising expenses, and geopolitical volatility are prompting more debtors to turn to the bankruptcy system to restructure debt and seek a financial fresh start."

Despite the surge in bankruptcy filings, credit markets have not shown strong concerns about broader default risks among speculative-grade U.S. corporate borrowers. S&P reported that as of the end of June, the five-year CDX North American High Yield Index spread narrowed to approximately 304 basis points, down from a recent peak of 406 basis points in March.