There was a historic surge in U.S. corporate bankruptcy filings in June, with the highest number recorded in a single month since at least the start of 2020, new data shows.The number of corporate bankruptcy filings as of June 2024 also surpassed half-year figures seen in over a decade, according to S&P Global Market Intelligence, which shares financial and industry data.S&P Global Market Intelligence said it recorded 75 new corporate bankruptcy filings in June.
Companies in the consumer discretionary sector manufacture goods or provide services that people want – but don't necessarily need, according to TD Bank. This includes restaurants, hotels, clothing retailers, and even media companies. It’s also not the same as consumer staples, which are items people need all the time – like food and household products. In June alone, the consumer discretionary sector recorded 16 new filings, S&P Global said. Chicken Soup for the Soul Entertainment Inc.