The tally of U.S. companies that have gone bankrupt so far in 2023 is higher than the first four months of any year since 2010, data from S&P Global Market Intelligence showed.

Graphic: U.S. corporate bankruptcy filings highest since 2010 -

There were 54 corporate bankruptcy petitions in April, down from 70 in March, S&P Global said. Still, the year-to-date count more than doubled to 236 from a year ago.

Consumer discretionary companies logged a higher number of bankruptcies than any other sector in 2023, according to S&P Global, with the once high-flying retailer Bed Bath & Beyond among the latest victims.

Largest bankruptcies of 2023 (with more than $1 billion in liabilities):

Company Bankruptcy Reason

announcement

date

04-26-23 The talc supplier filed for

Whittaker, Clark bankruptcy protection, citing a

& Daniels Inc. "deluge" of lawsuits alleging that

its talc products caused asbestos

exposure and cancer.

Bed 04-23-23 Bed Bath & Beyond filed for

Bath & Beyond bankruptcy protection after the

Inc. home goods retailer failed to

secure funds to stay afloat.

LTL 04-04-23 The Johnson & Johnson talc

Management LLC subsidiary filed for bankruptcy

protection for a second time with

the intent to present a

reorganization plan with a proposed

$8.9 billion settlement to a judge

as soon as May 14.

SVB 03-17-23 SVB Financial Group filed for

Financial Group bankruptcy protection to seek

buyers for its assets, days after

its former unit Silicon Valley Bank

was taken over by U.S. regulators.

03-14-23 Diamond Sports Group, which

Diamond Sports provides local television

Group LLC broadcasts for nearly half of NBA,

NHL and MLB games, filed for

bankruptcy protection, caught

between expensive broadcast rights

agreements and sports viewers'

cord-cutting habits.

02-14-23 Avaya filed for bankruptcy and

Avaya Inc. secured a financing of $780 million

as it restructures its business.

01-23-23 Mattress maker Serta Simmons

Serta Simmons Bedding filed for bankruptcy

Bedding LLC protection in an effort to

eliminate most of its debt.

01-17-23 The party supplies retailer filed

Party City for bankruptcy protection, as

Holdco Inc. persistently high inflation takes a

toll on consumer spending.

Source: S&P Global Market Intelligence, Refinitiv Eikon

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'Silva)

By Bansari Mayur Kamdar