Business bankruptcies jump as wave of failure speeds up

Total bankruptcies – including consumer, small business and big corporates – have been climbing steadily for 20 months. — Bloomberg

WASHINGTON: Going bankrupt happens slowly, then all at once, to paraphrase an old saying. For businesses of all sizes, all at once is happening now.

This week is tied for the busiest three-day period for major corporate bankruptcies on record, according to data compiled by Bloomberg.