U.S. Corporate Bankruptcies Hover at 16-Year High: What Suppliers Need to Know

S&P Global reported on July 13 that 372 larger U.S. companies filed for bankruptcy protection through June 2026, the highest count since 2010.

Why it matters: Corporate failures are stuck at a 16-year high, so reassess your largest customers’ credit exposure now.

What the S&P data shows

The June tally confirms that elevated corporate distress is holding rather than fading in 2026.

• S&P Global counted 372 larger U.S. corporate bankruptcy petitions through June, just above the 371 filed in the same period last year and the most since 2010.
• June filings tied the monthly high for 2026, showing that the pace set earlier in the year has not eased.
• The five-year CDX North American High Yield spread tightened to roughly 304 basis points by the end of June, down from a 406 basis point spike in March, a sign that bond markets are not yet bracing for a broad default wave.

Which sectors are filing

The filings cluster in sectors that sit at the center of most B2B supply chains.

• Industrial companies led the first half with 50 filings, the sector most likely to carry large trade payables to suppliers.
• Consumer discretionary companies followed with 35 filings, and healthcare companies posted 26.
• Industrials and healthcare each recorded at least seven filings in June alone, with the financial sector adding five.

What is driving the filings

The pressures behind the numbers point straight at cost and credit conditions that suppliers already feel.

• Most analysts expect the Federal Reserve to hold interest rates through 2026, which keeps borrowing costs high for leveraged companies that need to refinance.
• Elevated input costs, persistent inflation, and slowing activity continue to squeeze corporate margins across sectors.
• Small businesses show the same strain, with 1,663 filing in the first half, a 50% jump that Securitas covered separately.

What to do now

A 16-year high in corporate failures is a reason to tighten credit discipline before a customer files, not after.

1. Rank your receivables by exposure and flag any customer concentrated in industrials, consumer discretionary, or healthcare.
2. Pull current financials and payment histories on your largest buyers and shorten terms where the risk has grown.
3. Confirm that trade credit insurance would respond if a major buyer filed, subject to credit limits, notification requirements, and policy terms in place at the time of the filing.
4. Contact Securitas Global Risk Solutions to review your coverage and close any gaps before the next filing lands.

Disclaimer:
This blog post is meant to be informative and provide helpful tips and insights into credit insurance policies. It is not meant to supersede any policy requirements. Please consult your credit insurance policy for all requirements including claim filing deadlines and required documentation.

Since 2004, Securitas Global Risk Solutions, LLC has helped clients develop trade credit and political risk transfer solutions. As an independent brokerage, Securitas is focused on developing comprehensive solutions that meet client needs, ensuring a complete understanding of policy wording and delivering excellent responsive service. If you want to understand how trade credit insurance can protect your business, contact Securitas Global Risk Solutions to speak with a specialist.