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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
about money to your bio 'Well, money sure is fascinating; but I guess it's not for everyone 🤷♀️'