Corporate bankruptcies in the United States have been rising significantly in recent years. In 2023, there were 591 corporate bankruptcies, one of the highest totals since 2011, with only 2020 seeing more filings at 639. This surge is attributed to the aftermath of the corporate borrowing boom fueled by low interest rates, which led to companies accumulating heavy debt and struggling to refinance as interest rates rose. The trend is expected to continue, with experts predicting a further increase in bankruptcies in 2024 as companies face refinancing challenges and rising interest rates.