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Smith Collection\/Gado\/Getty Images<\/p>\n
2025-08-13T16:12:02Z<\/p>\n
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Facebook Email X<\/p>\n LinkedIn<\/p>\n Reddit<\/p>\n Bluesky<\/p>\n WhatsApp<\/p>\n Copy link<\/p>\n lighning bolt icon Impact Link<\/p>\n Save <\/p>\n Read in app<\/p>\n <\/a> <\/p>\n This story is available exclusively to Business Insider Some beloved 1990s and 2000s brands were among the companies to file for bankruptcy this summer, continuing a troubling trend that hints at pain beneath the surface of the US economy. <\/p>\n Forever 21<\/a> and Joann’s are among the companies that filed for bankruptcy recently, with many famous retailers closing stores and reducing their physical footprint. <\/p>\n Data from S&P 500 Global shows that this summer, US corporate\u00a0bankruptcy<\/a>\u00a0filings surged to their highest level since 2020, with 71 public and private companies filing for bankruptcy last month. That’s an increase from June, when 63 companies<\/a> filed for bankruptcy. <\/p>\n Despite a strong stock market<\/a> and 3% economic growth in the second quarter, some once-prominent names reported hard times in July, citing difficult economic conditions. <\/p>\n “Companies are contending with elevated interest rates as uncertainty from US tariff policy pressures costs and supply chain resilience,” S&P 500 Global said.<\/p>\n Canned goods producer Del Monte Foods, for example, filed for Chapter 11 bankruptcy, noting declining demand and high inventory costs. Leadership also cited a heavy debt burden. Del Monte had combined debts of between $1 billion and $10 billion, Business Insider reported<\/a> last month. <\/p>\n
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