US firms filing for bankruptcy at fastest pace since 2013: Report

During the last financial crisis, there were 8,614 company bankruptcies in the US in 2008, and the number rose to 12,644 in 2009, according to the report

US companies were filing for bankruptcy at the fastest pace since 2013 as the fallout from the COVID-19 pandemic continues to ripple through the country, a media report said.

Citing data from legal services group Epiq, The Financial Times report said on Tuesday that a total of 3,427 companies have filed for Chapter 11 bankruptcy in the US this year, close to the 3,491 filings during the first half of 2008, reported China's Xinhua news agency.

"The data stand in contrast to an improving economic backdrop following hefty central bank support across the globe and economies starting to reopen," the report said,