Smaller and regional banks are"critical" to small and medium-sized businesses as they hold 40% of loans and debt at those companies, said UBS. Companies with fewer than 500 staff members make up 58% of the privately employed workforce in the US,underscoring the key role those businesses hold in the world's largest economy.
The UBS Evidence Lab Corporate Bankruptcy Monitor tracks US corporate chapter 7, 11, and 15 bankruptcy filings. After sifting through data, UBS outlined several takeaways, including that private bankruptcy filings are led by the real estate, chemicals, healthcare, and retail industries.
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