{"id":1910472,"date":"2023-04-06T00:42:42","date_gmt":"2023-04-06T04:42:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/small-businesses-are-filing-for-bankruptcy-at-higher-rate-than-peak-of-pandemic\/"},"modified":"2023-04-06T00:42:52","modified_gmt":"2023-04-06T04:42:52","slug":"small-businesses-are-filing-for-bankruptcy-at-higher-rate-than-peak-of-pandemic","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/small-businesses-are-filing-for-bankruptcy-at-higher-rate-than-peak-of-pandemic\/","title":{"rendered":"Small Businesses Are Filing for Bankruptcy at Higher Rate Than Peak of Pandemic"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsmall-businesses-are-filing-for-bankruptcy-at-higher-rate-than-peak-of-pandemic%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1910472&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div>\n<p><strong>Welcome back, readers. <\/strong>I&#8217;m Phil Rosen, writing to you from New York.<\/p>\n<p>Now that it&#8217;s April, we can say a spate of banks collapsed <em>last<\/em> month, but the repercussions of the crisis continue to unfold as if it all happened yesterday.<\/p>\n<p>The chatter now centers around a looming credit crunch \u2014\u00a0 but the troubling part is that red flags were flying well before we heard a peep from Silicon Valley Bank.<\/p>\n<p><em>If this was forwarded to you, <\/em><a href=\"https:\/\/www.businessinsider.com\/subscription\/newsletter\/10-things-opening-bell?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:sign up here;elm:context_link;itc:0\" data-rapid_p=\"7\" data-v9y=\"0\"><em>sign up here<\/em><\/a><em>. Download Insider&#8217;s app <\/em><a href=\"https:\/\/www.insider.com\/app?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:here.;elm:context_link;itc:0\" data-rapid_p=\"8\" data-v9y=\"0\"><em>here.<\/em><\/a><\/p>\n<figure>\n<div>\n<p><a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-banking-crisis-credit-crunch-private-bankruptcy-filings-small-business-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" data-ylk data-rapid_p=\"9\" data-v9y=\"0\"><\/a><\/p>\n<\/div>\n<p><figcaption data-id=\"m-0\">Woman closes door on business after declaring Chapter 7 bankruptcy<\/figcaption><\/p>\n<\/figure><figcaption><a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-banking-crisis-credit-crunch-private-bankruptcy-filings-small-business-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:LumiNola\/Getty;elm:context_link;itc:0\" data-rapid_p=\"11\" data-v9y=\"0\"><span>LumiNola\/Getty<\/span><\/a><\/figcaption><p><strong>1. Before March, the number of small- and mid-sized businesses <\/strong>filing for bankruptcy was already on the rise, meaning the bank turmoil only <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-banking-crisis-credit-crunch-private-bankruptcy-filings-small-business-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:exacerbates an existing trend;elm:context_link;itc:0\" data-rapid_p=\"12\" data-v9y=\"0\">exacerbates an existing trend<\/a>.<\/p>\n<p>UBS strategists wrote in a note last week that those companies have been <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-banking-crisis-credit-crunch-private-bankruptcy-filings-small-business-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:facing pressure;elm:context_link;itc:0\" data-rapid_p=\"13\" data-v9y=\"0\">facing pressure<\/a> from rising rates, sticky inflation, and slowing growth.<\/p>\n<p>Already in 2023, the number of private bankruptcies has <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-banking-crisis-credit-crunch-private-bankruptcy-filings-small-business-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:surpassed the previous peak;elm:context_link;itc:0\" data-rapid_p=\"14\" data-v9y=\"0\">surpassed the previous peak<\/a> set in the early stage of the COVID-19 pandemic, my colleague Carla Moze\u00e8 writes.<\/p>\n<p>Bankruptcy hot spots right now, according to UBS, include the real estate industry, which has led this year&#8217;s increase in filings, but the healthcare sector could follow suit as <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-banking-crisis-credit-crunch-private-bankruptcy-filings-small-business-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:credit stress seeps into the labor market;elm:context_link;itc:0\" data-rapid_p=\"15\" data-v9y=\"0\">credit stress seeps into the labor market<\/a>.<\/p>\n<p>The FDIC is facing more than $20 billion in costs as a result of the tumult, and the failures last month have stoked concerns that <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-banking-crisis-credit-crunch-private-bankruptcy-filings-small-business-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:other vulnerable banks will soon be forced to pull back on lending;elm:context_link;itc:0\" data-rapid_p=\"16\" data-v9y=\"0\">other vulnerable banks will soon be forced to pull back on lending<\/a> as they see lower deposit rates and tighter financial conditions.<\/p>\n<p><strong>Those smaller regional and community banks<\/strong> are particularly critical as a source of credit to small and mid-sized businesses, UBS said, as they hold 40% of the loans and debt to those companies.<\/p>\n<p>&#8220;The YTD spike is nevertheless stark \u2014 outright and relative to public filings \u2014 and a clear indication that a fulcrum of credit stress this cycle is in smaller corporates,&#8221; strategists said.<\/p>\n<p>All this is to say <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-banking-crisis-credit-crunch-private-bankruptcy-filings-small-business-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:Wall Street's pain could eventually become a Main Street credit crunch;elm:context_link;itc:0\" data-rapid_p=\"17\" data-v9y=\"0\">Wall Street&#8217;s pain could eventually become a Main Street credit crunch<\/a>.<\/p>\n<p>With trillions of dollars worth of deposits flying out of US banks since the Fed began tightening policy, and much of that coming out since SVB failed, <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-banking-crisis-deposits-loans-credit-crunch-consumers-commercial-economy-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:individuals as well as businesses could soon find it harder;elm:context_link;itc:0\" data-rapid_p=\"18\" data-v9y=\"0\">individuals as well as businesses could soon find it harder<\/a> to get a loan from their bank.<\/p>\n<p><strong><em>What risks are you watching as far as a credit crunch in the US for the coming months? Tweet me (<\/em><\/strong><a href=\"https:\/\/twitter.com\/philrosenn\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:@philrosenn;elm:context_link;itc:0\" data-rapid_p=\"20\" data-v9y=\"0\"><strong><em>@philrosenn<\/em><\/strong><\/a><strong><em>) or email me (<\/em><\/strong><a href=\"http:\/\/bonginoreport.com\/mailto:prosen@insider.com\" data-ylk=\"slk:prosen@insider.com;elm:context_link;itc:0\" data-rapid_p=\"21\" data-v9y=\"0\"><strong><em>prosen@insider.com<\/em><\/strong><\/a><strong><em>) to let me know. <\/em><\/strong><\/p>\n<p><u><strong>In other news:<\/strong><\/u><\/p>\n<figure>\n<div>\n<\/div>\n<p><figcaption data-id=\"m-1\">Richard Branson at Virgin Orbit<\/figcaption><\/p>\n<\/figure><figcaption><a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/virgin-orbit-stock-price-satellite-ceases-operations-job-cuts-branson-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:Virgin Orbit;elm:context_link;itc:0\" data-rapid_p=\"23\" data-v9y=\"0\"><u><strong><span>Virgin Orbit<\/span><\/strong><\/u><\/a><\/figcaption><p><strong>2. <\/strong><strong>Oil prices rise early Monday\u00a0<\/strong>after OPEC+ surprised traders by announcing a production cut of 1.16 million barrels per day, squeezing global crude supplies and reviving concerns about inflation. <a href=\"https:\/\/markets.businessinsider.com\/premarket?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:Here are the latest market moves;elm:context_link;itc:0\" data-rapid_p=\"24\" data-v9y=\"0\">Here are the latest market moves<\/a>.<\/p>\n<p><strong>3. On the docket:<\/strong> Broadcom, Walt Disney, and more, all <a href=\"https:\/\/markets.businessinsider.com\/earnings-calendar?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:reporting;elm:context_link;itc:0\" data-rapid_p=\"25\" data-v9y=\"0\">reporting<\/a>.<\/p>\n<p><strong>4. Goldman Sachs strategists recommended this batch of stocks that are priced right and set for strong growth. <\/strong>An uncertain economy will weigh on equities, but certain high-quality growth names could still outperform in a downturn. <a href=\"https:\/\/www.businessinsider.com\/investing-cheap-stocks-to-buy-growth-quality-recession-goldman-sachs-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:See their list of 32 stocks;elm:context_link;itc:0\" data-rapid_p=\"26\" data-v9y=\"0\">See their list of 32 stocks<\/a>.<\/p>\n<p><strong>5. First Citizens, the company that bought Silicon Valley Bank&#8217;s assets, is run by a family that&#8217;s no stranger to buying failed banks. <\/strong>The bank is run by a billionaire North Carolina family that&#8217;s bought over 20 small failed banks since 2008. <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/svb-first-citizens-holding-family-failed-banks-fdic-billionaire-empire-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:With the recent takeover, it's poised to stand among the largest 20 banks in the US;elm:context_link;itc:0\" data-rapid_p=\"27\" data-v9y=\"0\">With the recent takeover, it&#8217;s poised to stand among the largest 20 banks in the US<\/a>.<\/p>\n<p><strong>6. Nouriel Roubini thinks Fed rate hikes pose a &#8220;megathreat&#8221; to the economy. <\/strong>The economist, known as &#8220;Dr. Doom&#8221;, says rate hikes along with mountains of debt will eventually send the US into a financial crisis. <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/inflation-recession-fed-rate-hikes-economy-dr-doom-nouriel-roubini-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:He described three obstacles markets are staring down now;elm:context_link;itc:0\" data-rapid_p=\"28\" data-v9y=\"0\">He described three obstacles markets are staring down now<\/a>.<\/p>\n<p><strong>7. The US dollar has slipped against rivals over the last five weeks. <\/strong>The greenback had a banner year in 2022, but recent dips could be <a href=\"https:\/\/markets.businessinsider.com\/news\/currencies\/dollar-weakness-currencies-dxy-federal-reserve-interest-rates-inflation-q1-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:a sign of things to come;elm:context_link;itc:0\" data-rapid_p=\"29\" data-v9y=\"0\">a sign of things to come<\/a>. One analyst said <a href=\"https:\/\/markets.businessinsider.com\/news\/currencies\/dollar-dominance-markets-economy-fed-rate-hikes-inflation-dxy-currency-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" into the data-rapid_p=\"30\" data-v9y=\"0\">the currency is about to &#8220;stare into the abyss.&#8221;<\/a><\/p>\n<p><strong>8. The global investment strategist at a $124 billion firm broke down why the banking crisis could spread to other sectors. <\/strong>Hartford Fund&#8217;s Nanette Jacobson said March&#8217;s uncertainty could continue \u2014 <a href=\"https:\/\/www.businessinsider.com\/stock-market-investing-banking-crisis-svb-recession-real-estate-hartford-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:and worsen a recession that hits sooner than anyone expects;elm:context_link;itc:0\" data-rapid_p=\"31\" data-v9y=\"0\">and worsen a recession that hits sooner than anyone expects<\/a>.<\/p>\n<p><strong>9. A bond-market indicator shows there&#8217;s trouble brewing in the banking system.<\/strong> Market researcher Jim Bianco said there&#8217;s still turmoil ahead, and it&#8217;s not just the yield curve that&#8217;s raising concern. <a href=\"https:\/\/www.businessinsider.com\/banking-system-crisis-recession-bond-market-stocks-svb-signature-bianco-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:He thinks investors are underestimating the risk posed to the economy;elm:context_link;itc:0\" data-rapid_p=\"32\" data-v9y=\"0\">He thinks investors are underestimating the risk posed to the economy<\/a>.<\/p>\n<figure>\n<div>\n<p><a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/virgin-orbit-stock-price-satellite-ceases-operations-job-cuts-branson-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" data-ylk data-rapid_p=\"33\" data-v9y=\"0\"><\/a><\/p>\n<\/div>\n<p><figcaption data-id=\"m-2\">Virgin Orbit share price on April 3, 2023<\/figcaption><\/p>\n<\/figure><figcaption><a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/virgin-orbit-stock-price-satellite-ceases-operations-job-cuts-branson-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:Markets Insider;elm:context_link;itc:0\" data-rapid_p=\"35\" data-v9y=\"0\"><span>Markets Insider<\/span><\/a><\/figcaption><p><strong>10. Shares of Richard Branson&#8217;s Virgin Orbit crashed on Friday. <\/strong>The satellite company announced it would cease operations &#8220;for the foreseeable future,&#8221; as it hasn&#8217;t secured adequate funding to move forward. <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/virgin-orbit-stock-price-satellite-ceases-operations-job-cuts-branson-2023-3?utm_medium=referral&#038;utm_source=yahoo.com\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:Get the full details;elm:context_link;itc:0\" data-rapid_p=\"36\" data-v9y=\"0\">Get the full details<\/a>.<\/p>\n<p><em>Curated by Phil Rosen in New York. Feedback or tips? Tweet <\/em><a href=\"https:\/\/twitter.com\/philrosenn\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:@philrosenn;elm:context_link;itc:0\" data-rapid_p=\"37\" data-v9y=\"0\"><em>@philrosenn<\/em><\/a><em> or email <\/em><a href=\"http:\/\/bonginoreport.com\/mailto:prosen@insider.com\" data-ylk=\"slk:prosen@insider.com;elm:context_link;itc:0\" data-rapid_p=\"38\" data-v9y=\"0\"><em>prosen@insider.com<\/em><\/a><em>.<\/em><\/p>\n<p><em>Edited by Max Adams (<\/em><a href=\"https:\/\/twitter.com\/maxradams?lang=en\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:@maxradams;elm:context_link;itc:0\" data-rapid_p=\"39\" data-v9y=\"0\"><em>@maxradams<\/em><\/a><em>) in New York and Hallam Bullock (<\/em><a href=\"https:\/\/twitter.com\/hallam_bullock\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:@hallam_bullock;elm:context_link;itc:0\" data-rapid_p=\"40\" data-v9y=\"0\"><em>@hallam_bullock<\/em><\/a><em>) in London.<\/em><\/p>\n<p>Read the original article on <a href=\"https:\/\/www.businessinsider.com\/us-credit-crunch-bankruptcy-bank-crisis-svb-fed-inflation-markets-2023-3\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:Business Insider;elm:context_link;itc:0\" data-rapid_p=\"41\" data-v9y=\"0\">Business Insider<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Welcome back, readers. I&#8217;m Phil Rosen, writing to you from New York.Now that it&#8217;s April, we can say a spate of banks collapsed last month, but the repercussions of the crisis continue to unfold as if it all happened yesterday.The chatter now centers around a looming credit crunch \u2014\u00a0 but the troubling part is that<\/p>\n","protected":false},"author":1,"featured_media":1910473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[7740,6002,7014,4828,7499,6366],"class_list":["post-1910472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bankruptcy","tag-businesses","tag-filing","tag-pandemic","tag-peak","tag-rate"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1910472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1910472"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1910472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1910473"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1910472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1910472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1910472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}