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U.S. bankruptcies on track for 10-year highs with more than 100 consumer companies already registering



U.S. bankruptcies are on a 10-year hiatus with 424 companies registering through Aug. 9, according to S&P Intelligence Market Market. The group analysis took into account both public and private companies with public debt. The coronavirus has hit consumer companies hard, with more than 100 bankruptcy claims including the parents of the men’s clothing men Tailored Brands Inc. TLRD,
+ 4.57%,
Lord & Taylor department and Brooks Brothers retailer. Nearly 100 bankruptcies are in the energy and industrial sectors. Oil and gas producer Chesapeake Energy Corp CHKAQ,
+ 6.54%
and small engine manufacturer Briggs & Stratton Corp. are among the 35 companies that have filed more than $ 1 billion in liabilities. Select SPDR ETF XLY Consumer Discretion Section,
+ 0.66%
gained 13.3% a year earlier while the S&P 500 SPX index,
+ 0.46%
increased by 4% and the Dow Jones industrial average DJIA,
+ 1.20%
has lost 2.6%.


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